Cetera Investment Advisers Acquires 34,369 Shares of Marathon Digital Holdings, Inc. $MARA

Cetera Investment Advisers raised its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 28.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 156,392 shares of the business services provider’s stock after buying an additional 34,369 shares during the period. Cetera Investment Advisers’ holdings in Marathon Digital were worth $2,452,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MARA. Fifth Third Bancorp increased its position in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 683 shares during the last quarter. IFP Advisors Inc increased its position in shares of Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after purchasing an additional 2,001 shares during the last quarter. Allworth Financial LP raised its stake in shares of Marathon Digital by 555.0% during the 2nd quarter. Allworth Financial LP now owns 5,417 shares of the business services provider’s stock worth $85,000 after purchasing an additional 4,590 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after buying an additional 3,032 shares in the last quarter. Finally, CX Institutional increased its holdings in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after buying an additional 749 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Trading Up 6.5%

Shares of NASDAQ:MARA opened at $11.83 on Friday. Marathon Digital Holdings, Inc. has a 12-month low of $9.71 and a 12-month high of $30.28. The business has a 50 day moving average of $16.80 and a 200-day moving average of $16.44. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The stock has a market cap of $4.47 billion, a PE ratio of 10.66 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The firm had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Guggenheim started coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Rosenblatt Securities cut their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Transactions at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the sale, the director owned 58,103 shares in the company, valued at $884,327.66. The trade was a 20.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $329,784.95. Following the completion of the sale, the chief executive officer directly owned 3,582,994 shares of the company’s stock, valued at $42,960,098.06. This represents a 0.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 234,598 shares of company stock worth $3,876,481 over the last ninety days. Corporate 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.