Marathon Digital Holdings, Inc. (NASDAQ:MARA) Holdings Boosted by Xponance Inc.

Xponance Inc. boosted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 27.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,466 shares of the business services provider’s stock after acquiring an additional 3,778 shares during the period. Xponance Inc.’s holdings in Marathon Digital were worth $347,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC lifted its holdings in Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares during the last quarter. FinTrust Capital Advisors LLC bought a new position in Marathon Digital in the first quarter worth about $90,000. DekaBank Deutsche Girozentrale bought a new position in Marathon Digital in the first quarter worth about $105,000. GAMMA Investing LLC raised its holdings in shares of Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after buying an additional 3,565 shares during the last quarter. Finally, Natixis bought a new stake in shares of Marathon Digital during the first quarter valued at approximately $177,000. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

NASDAQ MARA opened at $15.07 on Wednesday. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a market capitalization of $4.26 billion, a PE ratio of 7.01 and a beta of 5.51. The company’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $18.78.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s revenue was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,212 shares of company stock worth $726,178. 1.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MARA shares. JPMorgan Chase & Co. cut their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie started coverage on Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, June 20th. Finally, B. Riley lifted their price target on 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 given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.61.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.