Russell Investments Group Ltd. Has $817,000 Holdings in Marathon Digital Holdings, Inc. $MARA

Key Points

• Russell Investments Group Ltd. has reduced its stake in Marathon Digital Holdings by 95.6%, now holding a position valued at $817,000 after selling over 1.5 million shares in Q1.
• Several analysts have increased their target prices for Marathon Digital, with ratings ranging from Buy to Overweight, and a consensus price target of $24.22.
• Marathon Digital reported a quarterly earnings per share of $1.84, significantly exceeding expectations and reflecting a 64.0% increase in revenue year-over-year.

Russell Investments Group Ltd. decreased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 95.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,008 shares of the business services provider's stock after selling 1,547,823 shares during the quarter. Russell Investments Group Ltd.'s holdings in Marathon Digital were worth $817,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ranch Capital Advisors Inc. boosted its holdings in Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after acquiring an additional 805 shares during the period. Mackenzie Financial Corp raised its position in shares of Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after acquiring an additional 878 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Marathon Digital by 7.3% during the 4th quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock valued at $244,000 after acquiring an additional 992 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock valued at $78,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Marathon Digital by 13.2% during the 4th quarter. Baird Financial Group Inc. now owns 10,620 shares of the business services provider's stock valued at $178,000 after acquiring an additional 1,238 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Performance

Shares of NASDAQ:MARA traded up $0.02 on Monday, hitting $15.98. The company's stock had a trading volume of 66,767,967 shares, compared to its average volume of 43,002,644. The stock's 50-day moving average is $16.69 and its two-hundred day moving average is $14.97. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 14.40 and a beta of 6.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

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

Insider Transactions at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the sale, the chief executive officer directly owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares of the company's stock, valued at $5,555,206.80. The trade was a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,712 shares of company stock valued at $3,186,128 over the last 90 days. Corporate insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price objective on shares of Marathon Digital in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their price target for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Macquarie increased their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Company 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.