Milestone Asset Management Group LLC Acquires 2,350 Shares of Marathon Digital Holdings, Inc. $MARA

Milestone Asset Management Group LLC grew its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 9.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,010 shares of the business services provider’s stock after purchasing an additional 2,350 shares during the quarter. Milestone Asset Management Group LLC’s holdings in Marathon Digital were worth $439,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MARA. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 2,001 shares during the last quarter. Archer Investment Corp boosted its stake in shares of Marathon Digital by 6,800.0% in the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 6,800 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,032 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 749 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Down 3.5%

Shares of NASDAQ MARA opened at $18.88 on Wednesday. The firm has a market cap of $6.99 billion, a PE ratio of 17.01 and a beta of 6.33. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company’s fifty day simple moving average is $17.85 and its 200 day simple moving average is $16.42. 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 issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. During the same period in the prior year, the firm earned ($0.72) earnings per share. Marathon Digital’s revenue was up 64.0% on a year-over-year basis. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Friday, October 17th. The shares were sold at an average price of $19.57, for a total transaction of $538,272.85. Following the transaction, the chief executive officer owned 3,718,700 shares in the company, valued at approximately $72,774,959. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 owned 58,103 shares in the company, valued at approximately $884,327.66. The trade was a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 204,598 shares of company stock worth $3,616,374. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MARA. 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 research note on Monday, July 21st. Guggenheim began coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Compass Point initiated 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

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.