Rooted Wealth Advisors Inc. Acquires New Holdings in Marathon Digital Holdings, Inc. $MARA

Key Points

• Rooted Wealth Advisors Inc. has invested $215,000 in Marathon Digital Holdings, acquiring 13,741 shares during the second quarter.
• Several other institutional investors have also increased their stakes in Marathon Digital, indicating strong market interest, with institutional ownership now at 44.53%.
• Analysts have upgraded Marathon Digital's stock ratings recently, with a consensus price target of $24.50 and several firms giving it a "buy" or "overweight" rating.

Rooted Wealth Advisors Inc. bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,741 shares of the business services provider's stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also modified their holdings of MARA. Park Square Financial Group LLC bought a new position in shares of Marathon Digital during the fourth quarter valued at approximately $27,000. CX Institutional acquired a new stake in shares of Marathon Digital in the first quarter valued at $68,000. Archer Investment Corp lifted its holdings in Marathon Digital by 6,800.0% during the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock worth $79,000 after buying an additional 6,800 shares during the last quarter. NewEdge Advisors LLC increased its position in Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock valued at $88,000 after acquiring an additional 3,032 shares during the period. Finally, Mirador Capital Partners LP purchased a new stake in Marathon Digital during the first quarter worth $117,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insiders Place Their Bets

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the transaction, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer directly owned 318,428 shares in the company, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,598 shares of company stock worth $3,483,548. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. BTIG Research reissued a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Compass Point assumed coverage on Marathon Digital in a report on Monday, September 15th. They set a "neutral" rating and a $18.00 target price for the company. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Finally, Cantor Fitzgerald increased their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.50.

Marathon Digital Stock Up 0.3%

Marathon Digital stock traded up $0.06 during mid-day trading on Monday, reaching $18.35. The stock had a trading volume of 84,740,442 shares, compared to its average volume of 61,973,300. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 16.53 and a beta of 6.36. The company has a 50-day moving average price of $16.58 and a two-hundred day moving average price of $15.16. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. Marathon Digital's revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.72) EPS. On average, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Marathon Digital Profile

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.