Marathon Digital Holdings, Inc. $MARA Position Raised by Phoenix Financial Ltd.

Phoenix Financial Ltd. lifted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,360 shares of the business services provider’s stock after purchasing an additional 1,482 shares during the quarter. Phoenix Financial Ltd.’s holdings in Marathon Digital were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MARA. Janney Montgomery Scott LLC raised its stake in shares of Marathon Digital by 307.7% during the first 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 in the last quarter. PFG Investments LLC raised its stake in shares of Marathon Digital by 70.5% during the first quarter. PFG Investments LLC now owns 18,849 shares of the business services provider’s stock valued at $217,000 after purchasing an additional 7,795 shares in the last quarter. Western Wealth Management LLC raised its stake in shares of Marathon Digital by 24.7% during the first quarter. Western Wealth Management LLC now owns 23,029 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 4,555 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 12,032 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Marathon Digital by 19.3% during the first quarter. KBC Group NV now owns 13,725 shares of the business services provider’s stock valued at $158,000 after purchasing an additional 2,220 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MARA has been the topic of a number of recent analyst reports. Rosenblatt Securities lifted their price objective on shares of Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Cantor Fitzgerald lifted their price objective on shares of Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Piper Sandler boosted their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Macquarie upped their price target on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, 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 objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Marathon Digital has an average rating of “Moderate Buy” and a consensus price target of $24.20.

Insider Transactions at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the transaction, the director directly owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief financial officer directly owned 318,030 shares in the company, valued at $7,232,002.20. The trade was a 9.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock valued at $3,616,374 over the last three months. Company insiders own 0.80% of the company’s stock.

Marathon Digital Stock Down 4.6%

Shares of Marathon Digital stock opened at $19.15 on Thursday. The stock’s fifty day moving average is $17.56 and its 200-day moving average is $16.13. The firm has a market capitalization of $7.09 billion, a PE ratio of 17.25 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 Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for 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%.Marathon Digital’s revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.72) earnings per share. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share 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.