Janney Montgomery Scott LLC Cuts Holdings in Marathon Digital Holdings, Inc. $MARA

Janney Montgomery Scott LLC trimmed its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 43.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,100 shares of the business services provider’s stock after selling 27,271 shares during the period. Janney Montgomery Scott LLC’s holdings in Marathon Digital were worth $566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $457,832,000 after purchasing an additional 1,028,512 shares in the last quarter. American Century Companies Inc. raised its position in Marathon Digital by 55.7% in the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock worth $72,334,000 after buying an additional 2,250,082 shares during 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 worth $40,592,000 after acquiring an additional 236,251 shares during the period. 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 worth $38,210,000 after acquiring an additional 294,161 shares during the period. 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 worth $24,245,000 after acquiring an additional 67,838 shares during the period. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Down 11.3%

MARA stock opened at $20.26 on Friday. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The stock has a market cap of $7.51 billion, a P/E ratio of 18.25 and a beta of 6.33. The business’s 50-day moving average price is $17.22 and its 200-day moving average price is $15.91. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 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 the consensus estimate of $212.25 million. During the same period in the previous year, the business earned ($0.72) earnings per share. The business’s revenue was up 64.0% on a year-over-year basis. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on MARA. JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday, October 8th. Macquarie upped their price objective on Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Friday, September 5th. Finally, Cantor Fitzgerald boosted their price target on Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.90.

Insider Activity

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the transaction, the director owned 58,103 shares of the company’s stock, valued at approximately $884,327.66. This trade represents a 20.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the transaction, the chief executive officer directly owned 3,755,789 shares in the company, valued at approximately $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,361 shares of company stock valued at $2,288,295 in the last ninety days. Insiders own 0.80% of the company’s stock.

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.