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

FNY Investment Advisers LLC lowered its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 74.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,700 shares of the business services provider’s stock after selling 5,030 shares during the quarter. 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 bought and sold shares of MARA. Fifth Third Bancorp boosted its position in Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 683 shares during the last quarter. IFP Advisors Inc boosted its position in Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the last quarter. Archer Investment Corp boosted its position in Marathon Digital by 6,800.0% during the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 6,800 shares during the last quarter. NewEdge Advisors LLC boosted its position in Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 3,032 shares during the last quarter. Finally, CX Institutional boosted its position in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 749 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $19.54 on Friday. The firm’s 50-day moving average price is $17.71 and its 200-day moving average price is $16.25. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The firm 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 current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. During the same quarter in the prior year, the business posted ($0.72) EPS. The firm’s revenue was up 64.0% compared to the same quarter last year. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total value of $789,805.68. Following the sale, the chief financial officer owned 318,030 shares in the company, valued at $7,232,002.20. This represents a 9.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the completion of the sale, the chief executive officer owned 3,718,700 shares in the company, valued at $72,774,959. This represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock worth $3,616,374 in the last quarter. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MARA shares. BTIG Research reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Piper Sandler upped their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday. They set a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday, October 8th. Finally, Compass Point began coverage on shares of Marathon Digital in a report on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Marathon Digital 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.