Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 76.3% in the first quarter, Holdings Channel.com reports. The firm owned 49,420 shares of the business services provider’s stock after selling 158,873 shares during the period. Mutual of America Capital Management LLC’s holdings in Marathon Digital were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Deutsche Bank AG lifted its holdings in shares of Marathon Digital by 14.3% in the first quarter. Deutsche Bank AG now owns 1,120,035 shares of the business services provider’s stock valued at $12,880,000 after purchasing an additional 140,273 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $38,210,000 after acquiring an additional 294,161 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock worth $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. Ranch Capital Advisors Inc. raised its holdings in shares of Marathon Digital by 5.8% during the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock worth $168,000 after acquiring an additional 805 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Marathon Digital by 49.8% during the first quarter. Thoroughbred Financial Services LLC now owns 57,925 shares of the business services provider’s stock worth $666,000 after acquiring an additional 19,250 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total value of $661,644.60. Following the sale, the chief financial officer directly owned 324,572 shares of the company’s stock, valued at approximately $6,183,096.60. This trade represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $536,897.60. Following the completion of the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,680 shares of company stock worth $2,912,651. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded 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 report on Monday, July 28th. Compass Point upgraded Marathon Digital from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Finally, 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital has a consensus rating of “Moderate Buy” and an average target price of $24.22.

Marathon Digital Trading Up 1.8%

Shares of NASDAQ:MARA opened at $15.65 on Tuesday. The company has a market cap of $5.80 billion, a P/E ratio of 14.10 and a beta of 6.24. The stock’s 50-day moving average is $16.58 and its 200-day moving average is $15.14. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week 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.

Marathon Digital (NASDAQ:MARA) last issued its quarterly 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. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The firm’s revenue was up 64.0% compared to the same quarter last year. During the same period last year, the business posted ($0.72) earnings per share. Equities research analysts predict 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.