Wellington Management Group LLP Sells 508,383 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Wellington Management Group LLP reduced its stake in Marathon Digital Holdings by 71%, selling 508,383 shares and now owning approximately 208,047 shares worth $2.39 million.
• Marathon Digital's latest quarterly earnings showed an EPS of $1.84, significantly beating estimates, alongside a revenue increase of 64% year-over-year to $238.5 million.
• Current institutional ownership is at 44.53%, with multiple investors actively buying and selling shares, reflecting ongoing interest in the company's performance.

Wellington Management Group LLP trimmed its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 71.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,047 shares of the business services provider's stock after selling 508,383 shares during the period. Wellington Management Group LLP owned about 0.06% of Marathon Digital worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after buying an additional 1,028,512 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Marathon Digital by 55.7% in the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after buying an additional 2,250,082 shares in the last quarter. Northern Trust Corp lifted its position in shares of Marathon Digital by 7.2% during the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock valued at $40,592,000 after purchasing an additional 236,251 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Marathon Digital by 9.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock valued at $38,210,000 after purchasing an additional 294,161 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Marathon Digital by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 2,108,303 shares of the business services provider's stock valued at $24,245,000 after purchasing an additional 67,838 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Insider Activity at Marathon Digital

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MARA shares. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price target for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Barclays raised their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler raised their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Cantor Fitzgerald lifted their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.22.

Marathon Digital Price Performance

NASDAQ:MARA traded up $0.02 during mid-day trading on Monday, hitting $15.98. 66,767,967 shares of the stock traded hands, compared to its average volume of 43,002,644. The business's 50-day moving average price is $16.69 and its 200 day moving average price is $14.97. The company has a market cap of $5.92 billion, a PE ratio of 14.40 and a beta of 6.36. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during 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) earnings per share. On average, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

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.