Private Advisor Group LLC Acquires 49,062 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Private Advisor Group LLC raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 27.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,199 shares of the business services provider's stock after buying an additional 49,062 shares during the quarter. Private Advisor Group LLC owned about 0.08% of Marathon Digital worth $3,669,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Beaird Harris Wealth Management LLC grew its position in shares of Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider's stock valued at $29,000 after purchasing an additional 695 shares during the period. Signaturefd LLC grew its position in shares of Marathon Digital by 74.8% in the 3rd quarter. Signaturefd LLC now owns 2,975 shares of the business services provider's stock valued at $48,000 after purchasing an additional 1,273 shares during the period. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital in the 1st quarter valued at approximately $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital in the 1st quarter valued at approximately $105,000. Finally, Tobam grew its position in shares of Marathon Digital by 173.0% in the 3rd quarter. Tobam now owns 7,701 shares of the business services provider's stock valued at $125,000 after purchasing an additional 4,880 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. B. Riley boosted their target price on Marathon Digital from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, July 12th. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. Macquarie began coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 target price on the stock. Cantor Fitzgerald began coverage on Marathon Digital in a research note on Thursday, October 10th. They set an "overweight" rating and a $21.00 price objective on the stock. Finally, 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 note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.79.

Marathon Digital Price Performance

Marathon Digital stock traded up $0.94 during midday trading on Monday, reaching $18.00. The company's stock had a trading volume of 28,242,637 shares, compared to its average volume of 53,651,863. Marathon Digital Holdings, Inc. has a 52 week low of $8.39 and a 52 week high of $34.09. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $16.47 and a 200-day moving average price of $18.35. The stock has a market cap of $5.09 billion, a PE ratio of 8.51 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business's revenue was up 77.5% on a year-over-year basis. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital 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 approximately $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,417 shares of company stock valued at $1,516,536. 1.11% of the stock is currently owned by corporate insiders.

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.