FNY Investment Advisers LLC Sells 5,030 Shares of Marathon Digital Holdings, Inc. $MARA

FNY Investment Advisers LLC trimmed its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 74.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,700 shares of the business services provider’s stock after selling 5,030 shares during the period. FNY Investment Advisers LLC’s holdings in Marathon Digital were worth $26,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MARA. Guggenheim began coverage on shares of Marathon Digital in a research report on Tuesday. They issued a “neutral” rating for the company. Macquarie upped their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a research report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Digital has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,598 shares of company stock valued at $3,616,374. Company insiders own 0.80% of the company’s stock.

Marathon Digital Stock Up 1.7%

Marathon Digital stock opened at $19.54 on Friday. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The firm has a 50 day moving average price of $17.71 and a 200-day moving average price of $16.25. The company has a market capitalization of $7.24 billion, a P/E ratio of 17.60 and a beta of 6.33. 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) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during 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%. Marathon Digital’s revenue for the quarter was up 64.0% on a year-over-year basis. During the same period last year, the firm earned ($0.72) EPS. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Marathon Digital Company 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.