Wellington Management Group LLP Sells 508,383 Shares of Marathon Digital Holdings, Inc. $MARA

Wellington Management Group LLP trimmed its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 71.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 208,047 shares of the business services provider’s stock after selling 508,383 shares during the period. Wellington Management Group LLP owned about 0.06% of Marathon Digital worth $2,393,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in Marathon Digital in the fourth quarter valued at $27,000. NewEdge Advisors LLC grew its position in Marathon Digital by 28.9% in the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 1,040 shares during the period. CX Institutional bought a new stake in Marathon Digital in the first quarter valued at $68,000. Archer Investment Corp grew its position in Marathon Digital by 6,800.0% in the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 6,800 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in Marathon Digital in the fourth quarter valued at $169,000. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Price Performance

Shares of MARA stock opened at $15.98 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28. The stock has a market capitalization of $5.92 billion, a PE ratio of 14.40 and a beta of 6.24. The stock’s fifty day moving average is $16.69 and its 200-day moving average is $14.99.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) 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 analyst estimates of $212.25 million. During the same quarter in the prior year, the firm posted ($0.72) earnings per share. The firm’s revenue for the quarter was up 64.0% compared to the same quarter last year. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,733 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer owned 1,413,298 shares of the company’s stock, valued at $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the transaction, the chief executive officer directly owned 3,810,799 shares in the company, valued at $58,229,008.72. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,712 shares of company stock worth $3,186,128 in the last ninety days. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MARA. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Compass Point upgraded Marathon Digital from a “sell” rating to a “neutral” rating and increased their target price for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Barclays increased their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.22.

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.