Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lifted its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 49.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,925 shares of the business services provider's stock after buying an additional 19,250 shares during the period. Thoroughbred Financial Services LLC's holdings in Marathon Digital were worth $666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after purchasing an additional 47,826 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after purchasing an additional 12,032 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Marathon Digital by 1.0% in the 4th quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock worth $5,957,000 after purchasing an additional 3,393 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Marathon Digital by 46.3% in the 4th quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock worth $4,011,000 after purchasing an additional 75,668 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Marathon Digital by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock worth $3,485,000 after purchasing an additional 3,998 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 MARA traded up $0.06 during trading hours on Thursday, hitting $15.95. The stock had a trading volume of 26,157,060 shares, compared to its average volume of 48,742,792. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a 50-day moving average price of $16.53 and a 200 day moving average price of $15.26. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 14.37 and a beta of 6.24.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Macquarie lifted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Cantor Fitzgerald lifted 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. Finally, Barclays lifted 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.22.

Insider Activity at Marathon Digital

In related news, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the transaction, the director directly owned 176,859 shares in the company, valued at $2,829,744. The trade was a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the transaction, the chief financial officer owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,090 shares of company stock worth $4,270,591 in the last three months. Company insiders own 0.80% of the company's stock.

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.