Private Advisor Group LLC Boosts Stock Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Private Advisor Group LLC boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 61.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 452,282 shares of the business services provider's stock after buying an additional 172,196 shares during the period. Private Advisor Group LLC owned 0.13% of Marathon Digital worth $5,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Marathon Digital during the 4th quarter valued at about $27,000. Sterling Capital Management LLC lifted its position in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in Marathon Digital during the 4th quarter worth $50,000. CIBC Private Wealth Group LLC raised its position in Marathon Digital by 211.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock worth $64,000 after buying an additional 2,375 shares during the last quarter. Finally, CX Institutional purchased a new position in Marathon Digital during the 1st quarter worth $68,000. Institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Down 3.5%

Shares of MARA stock opened at $18.83 on Tuesday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of -12.99 and a beta of 6.53. The stock's fifty day moving average price is $16.19 and its 200 day moving average price is $15.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The company had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 earnings per share. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $19.05, for a total transaction of $661,644.60. Following the transaction, the chief financial officer owned 324,572 shares in the company, valued at approximately $6,183,096.60. The trade was a 9.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total transaction of $536,897.60. Following the completion of the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,090 shares of company stock valued at $4,270,591. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MARA shares. Barclays increased their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler upped their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Compass Point reiterated a "sell" rating and issued a $9.50 target price (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Finally, Rosenblatt Securities boosted their price objective on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $21.28.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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