Thoroughbred Financial Services LLC Buys 19,250 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Thoroughbred Financial Services LLC increased its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 49.8% during the first quarter, Holdings Channel.com reports. 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 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MARA. Janney Montgomery Scott LLC lifted its stake in shares of 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 valued at $729,000 after purchasing an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Digital by 1,521.1% in the first 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. lifted its stake in Marathon Digital by 1.0% in the fourth quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider’s stock valued at $5,957,000 after buying an additional 3,393 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Marathon Digital by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider’s stock worth $4,011,000 after buying an additional 75,668 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Marathon Digital by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider’s stock worth $3,485,000 after buying an additional 3,998 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total transaction of $536,897.60. Following the transaction, the chief executive officer directly owned 3,946,504 shares of the company’s stock, valued at $77,035,758.08. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. Following the transaction, the director owned 176,859 shares in the company, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Marathon Digital in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised shares of Marathon Digital from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Macquarie raised their target price on Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. 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. 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 report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.22.

Marathon Digital Trading Up 1.7%

NASDAQ:MARA opened at $15.89 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The company has a market cap of $5.89 billion, a PE ratio of 14.32 and a beta of 6.24. The firm has a 50-day moving average of $16.50 and a 200-day moving average of $15.29.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.72) EPS. As a group, equities research 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.