Profund Advisors LLC Cuts Holdings in Marathon Digital Holdings, Inc. $MARA

Profund Advisors LLC cut its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,284 shares of the business services provider’s stock after selling 4,483 shares during the quarter. Profund Advisors LLC’s holdings in Marathon Digital were worth $491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MARA. Teacher Retirement System of Texas acquired a new stake in Marathon Digital in the first quarter valued at $566,000. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $24,245,000 after purchasing an additional 67,838 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Marathon Digital in the first quarter valued at about $121,000. M&T Bank Corp lifted its stake in shares of Marathon Digital by 16.8% in the first quarter. M&T Bank Corp now owns 26,721 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 3,840 shares during the period. Finally, Xponance Inc. boosted its holdings in Marathon Digital by 27.1% during the first quarter. Xponance Inc. now owns 26,179 shares of the business services provider’s stock worth $301,000 after buying an additional 5,582 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Price Performance

Marathon Digital stock opened at $14.41 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $5.45 billion, a P/E ratio of 12.98 and a beta of 6.40. The firm’s 50-day moving average is $18.03 and its two-hundred day moving average is $16.69. 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, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MARA. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Compass Point began coverage on Marathon Digital in a research report on Monday, September 15th. They set a “neutral” rating and a $18.00 target price on the stock. Macquarie raised their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Insiders Place Their Bets

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were 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 of the company’s stock, valued at $11,476,168.32. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 58,103 shares in the company, valued at $884,327.66. This represents a 20.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 234,598 shares of company stock valued at $4,096,870. 0.80% of the stock is owned by company 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.