Stratos Wealth Partners LTD. Invests $121,000 in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Stratos Wealth Partners LTD. purchased a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,560 shares of the business services provider’s stock, valued at approximately $121,000.

A number of other institutional investors also recently added to or reduced their stakes in MARA. Victory Capital Management Inc. boosted its stake in shares of Marathon Digital by 16.5% during the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the business services provider’s stock worth $1,135,000 after buying an additional 9,562 shares during the period. Raymond James Financial Inc. purchased a new position in Marathon Digital in the fourth quarter worth $1,408,000. PNC Financial Services Group Inc. grew its holdings in shares of Marathon Digital by 62.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,561 shares of the business services provider’s stock worth $261,000 after acquiring an additional 5,962 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Marathon Digital by 7.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,465 shares of the business services provider’s stock valued at $964,000 after acquiring an additional 3,797 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Marathon Digital by 20.2% during the 4th quarter. HighTower Advisors LLC now owns 161,860 shares of the business services provider’s stock worth $2,714,000 after purchasing an additional 27,147 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Up 2.7%

Shares of MARA opened at $19.97 on Friday. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of -13.77 and a beta of 6.53. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $16.12 and a two-hundred day moving average price of $15.40.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Marathon Digital’s quarterly revenue was up 29.5% compared to the same quarter last year. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Marathon Digital from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Compass Point reiterated a “sell” rating and set a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, Rosenblatt Securities lifted their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.94.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer directly owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. This represents a 2.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the completion of the sale, the chief executive officer directly owned 4,146,804 shares of the company’s stock, valued at approximately $62,202,060. The trade was a 1.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 234,585 shares of company stock valued at $3,733,694. 0.80% 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.