Vident Advisory LLC Acquires 25,088 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Vident Advisory LLC increased its stake in Marathon Digital Holdings by 3.7%, now owning approximately 0.20% of the company valued at nearly $8 million.
• Multiple analysts have upgraded Marathon Digital, including Cantor Fitzgerald raising their price target from $34.00 to $39.00 and JPMorgan increasing theirs from $19.00 to $22.00, with a general consensus rating of "Moderate Buy".
• Marathon Digital reported earnings of $1.84 per share, exceeding expectations, with a 64% year-over-year revenue increase to $238.5 million for the most recent quarter.

Vident Advisory LLC lifted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 695,182 shares of the business services provider's stock after purchasing an additional 25,088 shares during the quarter. Vident Advisory LLC owned about 0.20% of Marathon Digital worth $7,995,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Ranch Capital Advisors Inc. lifted its stake in Marathon Digital by 5.8% in the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after buying an additional 805 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Marathon Digital by 5.1% during the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after acquiring an additional 878 shares during the period. CoreCap Advisors LLC lifted its position in Marathon Digital by 7.3% in 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 lifted its position in Marathon Digital by 28.9% in 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. boosted its stake in Marathon Digital by 13.2% in the 4th quarter. Baird Financial Group Inc. now owns 10,620 shares of the business services provider's stock worth $178,000 after purchasing an additional 1,238 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Stock Up 0.1%

MARA traded up $0.02 on Monday, hitting $15.98. 66,767,967 shares of the company were exchanged, compared to its average volume of 43,002,644. The stock's fifty day moving average is $16.69 and its 200-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 debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $5.92 billion, a PE ratio of 14.40 and a beta of 6.36.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping 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 firm had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. During the same quarter in the previous year, the firm earned ($0.72) EPS. The business's quarterly revenue was up 64.0% on a year-over-year basis. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and lifted their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Piper Sandler increased their price objective on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Cantor Fitzgerald lifted their target price on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Macquarie upped their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.22.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the sale, the chief executive officer directly owned 3,810,799 shares of the company's stock, valued at approximately $58,229,008.72. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,712 shares of company stock worth $3,186,128. 0.80% of the stock is owned by corporate insiders.

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.