Harvest Portfolios Group Inc. Purchases 68,202 Shares of Marathon Digital Holdings, Inc. $MARA

Harvest Portfolios Group Inc. raised its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 103.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,849 shares of the business services provider’s stock after purchasing an additional 68,202 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Marathon Digital were worth $2,099,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp grew its stake in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the last quarter. IFP Advisors Inc boosted its holdings in Marathon Digital by 375.4% during the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the period. CX Institutional boosted its holdings in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 749 shares during the period. Archer Investment Corp grew its position in Marathon Digital by 6,800.0% in the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 6,800 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after purchasing an additional 3,032 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the transaction, the chief financial officer directly owned 318,428 shares in the company, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Vicki Mealer-Burke sold 14,887 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the sale, the director owned 58,103 shares of the company’s stock, valued at $884,327.66. This trade represents a 20.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 203,598 shares of company stock worth $3,600,164. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MARA. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Compass Point assumed coverage on shares of Marathon Digital in a report on Monday, September 15th. They set a “neutral” rating and a $18.00 price objective for the company. Piper Sandler boosted their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. BTIG Research restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Finally, Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Marathon Digital Trading Down 0.6%

NASDAQ:MARA opened at $15.87 on Friday. The firm has a 50-day simple moving average of $18.09 and a 200-day simple moving average of $16.66. 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 cap of $5.88 billion, a P/E ratio of 14.30 and a beta of 6.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

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

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.