Brookstone Capital Management Lowers Holdings in Marathon Digital Holdings, Inc. $MARA

Brookstone Capital Management decreased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,921 shares of the business services provider’s stock after selling 5,254 shares during the quarter. Brookstone Capital Management’s holdings in Marathon Digital were worth $1,128,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. New York State Teachers Retirement System raised its stake in Marathon Digital by 12.0% during the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock valued at $4,997,000 after buying an additional 34,100 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Marathon Digital by 10.0% during the first quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock valued at $10,549,000 after purchasing an additional 83,242 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Marathon Digital by 14.5% during the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock valued at $1,848,000 after purchasing an additional 20,413 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Marathon Digital by 7.7% during the second quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider’s stock valued at $18,396,000 after purchasing an additional 83,649 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Marathon Digital by 307.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider’s stock valued at $729,000 after acquiring an additional 47,826 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 Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the completion of the sale, the chief executive officer owned 3,718,700 shares of the company’s stock, valued at approximately $72,774,959. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vicki Mealer-Burke sold 14,887 shares of the business’s 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 sale, the director directly owned 58,103 shares of the company’s stock, valued at $884,327.66. This represents a 20.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 204,598 shares of company stock valued at $3,616,374. Company insiders own 0.80% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA opened at $19.54 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The firm has a market capitalization of $7.24 billion, a P/E ratio of 17.60 and a beta of 6.33. The business has a fifty day moving average of $17.71 and a 200 day moving average of $16.29.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 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 company had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. Marathon Digital’s revenue was up 64.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Wall Street Analyst Weigh In

MARA has been the topic of several research analyst reports. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Rosenblatt Securities upped their target price on shares of Marathon Digital from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Digital in a research note on Saturday. Finally, Guggenheim assumed coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

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.