Wealth Enhancement Advisory Services LLC Sells 2,598 Shares of Marathon Digital Holdings, Inc. $MARA

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,880 shares of the business services provider’s stock after selling 2,598 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Marathon Digital were worth $970,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock worth $457,832,000 after purchasing an additional 1,028,512 shares during the period. American Century Companies Inc. grew its stake in shares of Marathon Digital by 55.7% in the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock valued at $72,334,000 after acquiring an additional 2,250,082 shares in the last quarter. Northern Trust Corp grew its stake in shares of Marathon Digital by 7.2% in the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider’s stock valued at $40,592,000 after acquiring an additional 236,251 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Marathon Digital by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider’s stock valued at $38,210,000 after acquiring an additional 294,161 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Marathon Digital by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 2,108,303 shares of the business services provider’s stock valued at $24,245,000 after acquiring an additional 67,838 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Performance

Marathon Digital stock opened at $18.61 on Thursday. The business has a 50 day moving average of $16.36 and a 200-day moving average of $15.35. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year 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 company has a market capitalization of $6.89 billion, a P/E ratio of 16.77 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data 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 company had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the prior year, the firm posted ($0.72) earnings per share. The firm’s revenue was up 64.0% compared to the same quarter last year. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,598 shares of company stock worth $3,483,548. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MARA. Piper Sandler upped their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. Macquarie upped their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Finally, Compass Point began coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

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.