Everence Capital Management Inc. purchased a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,480 shares of the business services provider's stock, valued at approximately $640,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC grew its position in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock worth $29,000 after buying an additional 695 shares in the last quarter. Ranch Capital Advisors Inc. grew its holdings in Marathon Digital by 6.1% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider's stock worth $269,000 after acquiring an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Marathon Digital by 4.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider's stock valued at $505,000 after purchasing an additional 881 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Marathon Digital by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider's stock worth $1,603,000 after purchasing an additional 1,430 shares during the period. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of Marathon Digital by 2.9% during the second quarter. Kingswood Wealth Advisors LLC now owns 66,561 shares of the business services provider's stock valued at $1,321,000 after purchasing an additional 1,845 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.
Insider Transactions at Marathon Digital
In other news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company's stock, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now directly owns 4,250,804 shares of the company's stock, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock worth $1,516,536 over the last three months. 1.11% of the stock is currently owned by insiders.
Marathon Digital Stock Performance
Shares of Marathon Digital stock traded down $0.17 during midday trading on Monday, hitting $18.71. The company had a trading volume of 42,533,182 shares, compared to its average volume of 53,938,887. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 8.37 and a beta of 5.50. Marathon Digital Holdings, Inc. has a 12-month low of $7.74 and a 12-month high of $34.09. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $16.20 and a 200 day simple moving average of $18.34.
Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The company's quarterly revenue was up 77.5% on a year-over-year basis. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MARA. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research note on Thursday, October 10th. They issued an "overweight" rating and a $21.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $14.00 to $12.00 and set an "underweight" rating on the stock in a research report on Friday, August 23rd. Macquarie started coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an "outperform" rating and a $22.00 price target for the company. Finally, B. Riley raised their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Hold" and a consensus target price of $19.79.
Check Out Our Latest Research Report on MARA
Marathon Digital Profile
(
Free Report)
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.
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