Russell Investments Group Ltd. Has $817,000 Stock Position in Marathon Digital Holdings, Inc. $MARA

Russell Investments Group Ltd. trimmed its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 95.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,008 shares of the business services provider’s stock after selling 1,547,823 shares during the quarter. Russell Investments Group Ltd.’s holdings in Marathon Digital were worth $817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MARA. Park Square Financial Group LLC acquired a new stake in Marathon Digital in the fourth quarter worth about $27,000. CX Institutional acquired a new position in shares of Marathon Digital during the 1st quarter worth about $68,000. NewEdge Advisors LLC grew its position in shares of Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider’s stock worth $78,000 after buying an additional 1,040 shares during the period. Archer Investment Corp grew its position in shares of Marathon Digital by 6,800.0% during the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock worth $79,000 after buying an additional 6,800 shares during the period. Finally, Mirador Capital Partners LP acquired a new position in shares of Marathon Digital during the 1st quarter worth about $117,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MARA shares. Macquarie boosted their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Piper Sandler boosted their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Cantor Fitzgerald boosted their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Finally, Barclays boosted their target price 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. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

Marathon Digital Trading Up 0.1%

NASDAQ:MARA opened at $15.98 on Friday. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. 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 $5.92 billion, a PE ratio of 14.40 and a beta of 6.24. The business’s 50-day simple moving average is $16.69 and its 200-day simple moving average is $14.99.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $212.25 million. During the same quarter in the previous year, the business posted ($0.72) EPS. Marathon Digital’s revenue for the quarter was up 64.0% on a year-over-year basis. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the completion of the sale, the chief financial officer owned 353,160 shares in the company, valued at $5,555,206.80. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,712 shares of company stock worth $3,186,128 in the last 90 days. Company insiders own 0.80% of the company’s stock.

Marathon Digital 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.