SRN Advisors LLC Sells 12,042 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SRN Advisors LLC lessened its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 8.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,210 shares of the business services provider’s stock after selling 12,042 shares during the quarter. Marathon Digital accounts for about 2.0% of SRN Advisors LLC’s investment portfolio, making the stock its 9th largest holding. SRN Advisors LLC’s holdings in Marathon Digital were worth $2,258,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC increased its position in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares in the last quarter. Signaturefd LLC raised its position in Marathon Digital by 74.8% in the third quarter. Signaturefd LLC now owns 2,975 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,273 shares during the period. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital during the first quarter worth about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital in the first quarter worth about $105,000. Finally, GAMMA Investing LLC boosted its position in shares of Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after buying an additional 3,565 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the transaction, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares in the company, valued at approximately $74,389,070. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,417 shares of company stock worth $1,516,536 over the last 90 days. Insiders own 0.97% of the company’s stock.

Marathon Digital Stock Down 6.4 %

NASDAQ:MARA opened at $17.06 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 10.94 and a beta of 5.50. Marathon Digital Holdings, Inc. has a one year low of $8.39 and a one year high of $34.09. The stock has a 50-day simple moving average of $16.47 and a 200 day simple moving average of $18.34.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

MARA has been the topic of several recent research reports. Cantor Fitzgerald started coverage on Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Thursday, October 10th. Macquarie assumed coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. B. Riley upped their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.79.

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.