Westfield Capital Management Co. LP Makes New $14.81 Million Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Key Points

• Westfield Capital Management Co. LP acquired a new stake in Marathon Digital Holdings, purchasing over 1.28 million shares worth approximately $14.81 million, making up 0.37% of the company by the end of the last quarter.
• Marathon Digital reported a Q2 EPS of $1.84, significantly exceeding analyst expectations, with revenues rising to $238.50 million, an increase of 64% year-over-year.
• Investment analysts have raised Marathon Digital's target price, with estimates ranging from $16.00 to $26.00, indicating a consensus average target price of $24.22 and a current "Moderate Buy" rating.

Westfield Capital Management Co. LP bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,287,869 shares of the business services provider's stock, valued at approximately $14,810,000. Westfield Capital Management Co. LP owned about 0.37% of Marathon Digital at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MARA. Price T Rowe Associates Inc. MD boosted its holdings in shares of Marathon Digital by 192.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock worth $31,817,000 after purchasing an additional 1,248,292 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Marathon Digital during the fourth quarter worth $13,416,000. Wellington Management Group LLP increased its position in Marathon Digital by 1,726.2% during the fourth quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider's stock valued at $12,015,000 after acquiring an additional 677,199 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Marathon Digital by 2,004.5% in the fourth quarter. Franklin Resources Inc. now owns 665,450 shares of the business services provider's stock valued at $11,160,000 after acquiring an additional 633,829 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Marathon Digital by 408.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 746,817 shares of the business services provider's stock worth $12,524,000 after acquiring an additional 599,945 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the completion of the transaction, the chief financial officer owned 324,572 shares in the company, valued at approximately $6,183,096.60. This trade represents a 9.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director owned 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

MARA has been the subject of several analyst reports. HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $9.50 to $18.00 in a report on Friday, July 25th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Barclays boosted their target price 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. Finally, Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Marathon Digital currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Stock Up 1.7%

Shares of NASDAQ MARA traded up $0.27 during mid-day trading on Wednesday, reaching $15.89. 21,542,700 shares of the company were exchanged, compared to its average volume of 49,800,008. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The firm has a 50-day moving average of $16.48 and a 200 day moving average of $15.29. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 14.32 and a beta of 6.24. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company's quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current 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.