Maridea Wealth Management LLC Sells 90,172 Shares of Marathon Digital Holdings, Inc. $MARA

Maridea Wealth Management LLC cut its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 84.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,072 shares of the business services provider’s stock after selling 90,172 shares during the period. Maridea Wealth Management LLC’s holdings in Marathon Digital were worth $268,000 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.

Analyst Ratings Changes

MARA has been the subject of a number of recent analyst reports. Macquarie upped their price objective on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Cantor Fitzgerald upped their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $22.00 in a research note on Monday, July 28th. Piper Sandler boosted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Compass Point started coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Marathon Digital Stock Down 8.9%

MARA opened at $16.07 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 14.48 and a beta of 6.35. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The company’s 50-day moving average price is $16.44 and its two-hundred day moving average price is $15.22.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analysts’ expectations 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 was up 64.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.72) EPS. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the company’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 transaction of $226,580.14. Following the sale, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. This represents a 20.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the sale, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. The trade was 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 have sold 204,598 shares of company stock worth $3,483,548. 0.80% of the stock is owned by corporate insiders.

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.