Fifth Third Bancorp Boosts Stake in Marathon Digital Holdings, Inc. $MARA

Fifth Third Bancorp raised its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 59.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,824 shares of the business services provider’s stock after acquiring an additional 683 shares during the period. Fifth Third Bancorp’s holdings in Marathon Digital were worth $29,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MARA. CX Institutional boosted its holdings in Marathon Digital by 12.6% in the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 749 shares during the last quarter. Ranch Capital Advisors Inc. boosted its holdings in Marathon Digital by 5.8% in the first quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 805 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares during the last quarter. Strategic Advocates LLC boosted its holdings in Marathon Digital by 7.8% in the second quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 1,163 shares during the last quarter. Finally, United Services Automobile Association boosted its holdings in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $18.82 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The business has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $15.44. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 16.95 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $212.25 million. During the same period last year, the company earned ($0.72) earnings per share. Marathon Digital’s quarterly revenue was up 64.0% compared to the same quarter last year. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MARA shares. Compass Point started coverage on Marathon Digital in a research note on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Marathon Digital in a research note on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Digital in a research note on Saturday, September 27th. Piper Sandler increased their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Finally, BTIG Research reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling at Marathon Digital

In other news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at approximately $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the transaction, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,598 shares of company stock worth $3,483,548 over the last three months. Corporate 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.