Summit Investment Advisors Inc. Purchases 4,722 Shares of Marathon Digital Holdings, Inc. $MARA

Summit Investment Advisors Inc. increased its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 15.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,509 shares of the business services provider’s stock after purchasing an additional 4,722 shares during the period. Summit Investment Advisors Inc.’s holdings in Marathon Digital were worth $397,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wedbush Securities Inc. bought a new stake in Marathon Digital during the second quarter valued at about $191,000. Harvest Portfolios Group Inc. grew its position in shares of Marathon Digital by 103.9% during the second quarter. Harvest Portfolios Group Inc. now owns 133,849 shares of the business services provider’s stock worth $2,099,000 after purchasing an additional 68,202 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Marathon Digital by 8.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after purchasing an additional 177,771 shares during the period. GAM Holding AG purchased a new position in Marathon Digital in the 2nd quarter worth approximately $157,000. Finally, Amalgamated Bank boosted its stake in Marathon Digital by 3.2% in the 2nd quarter. Amalgamated Bank now owns 99,835 shares of the business services provider’s stock worth $1,565,000 after purchasing an additional 3,098 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Down 6.2%

Shares of NASDAQ MARA opened at $11.99 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The firm’s 50-day moving average price is $17.92 and its 200-day moving average price is $16.65. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 10.80 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Compass Point began coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating for the company. Macquarie lifted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Rosenblatt Securities dropped their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Buying and Selling

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the transaction, the general counsel owned 723,136 shares in the company, valued at $11,476,168.32. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total value of $789,805.68. Following the completion of the transaction, the chief financial officer directly owned 318,030 shares in the company, valued at $7,232,002.20. This trade represents a 9.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 199,866 shares of company stock worth $3,550,536. 0.80% of the stock is currently owned by corporate insiders.

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.