Janney Montgomery Scott LLC Raises Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Janney Montgomery Scott LLC increased its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 307.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 63,371 shares of the business services provider’s stock after purchasing an additional 47,826 shares during the period. Janney Montgomery Scott LLC’s holdings in Marathon Digital were worth $729,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in Marathon Digital during the fourth quarter worth $27,000. Sterling Capital Management LLC lifted its stake in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,426 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Marathon Digital during the 4th quarter worth $50,000. US Bancorp DE boosted its position in Marathon Digital by 73.3% during the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 1,505 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in Marathon Digital by 211.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 2,375 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on MARA shares. Piper Sandler decreased their price target on shares of Marathon Digital from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Compass Point restated a “sell” rating and issued a $9.50 target price (down from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. Barclays lifted their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Rosenblatt Securities increased their price objective on Marathon Digital from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on Marathon Digital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.94.

Insider Transactions at Marathon Digital

In related news, CEO Frederick G. Thiel sold 55,010 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $825,150.00. Following the sale, the chief executive officer owned 4,146,804 shares in the company, valued at $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer directly owned 1,413,298 shares of the company’s stock, valued at $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,853 shares of company stock worth $3,054,629 over the last three months. 0.80% of the stock is currently owned by insiders.

Marathon Digital Trading Up 0.1%

NASDAQ:MARA opened at $15.70 on Wednesday. The company has a market capitalization of $5.53 billion, a P/E ratio of -10.83 and a beta of 6.53. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The firm has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $15.54.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). The firm had revenue of $213.88 million during the quarter, compared to analysts’ expectations of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business’s revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Marathon Digital Company 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.