Marathon Digital Holdings, Inc. $MARA Stake Reduced by SLT Holdings LLC

SLT Holdings LLC reduced its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 33.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,340 shares of the business services provider’s stock after selling 14,460 shares during the quarter. SLT Holdings LLC’s holdings in Marathon Digital were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its position in Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after acquiring an additional 683 shares during the period. CX Institutional boosted its position in Marathon Digital by 12.6% during the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock worth $105,000 after acquiring an additional 749 shares during the period. Ranch Capital Advisors Inc. boosted its position in Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider’s stock worth $168,000 after acquiring an additional 805 shares during the period. Integrated Wealth Concepts LLC boosted its position in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the period. Finally, Strategic Advocates LLC boosted its position in Marathon Digital by 7.8% during the 2nd quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider’s stock worth $251,000 after acquiring an additional 1,163 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Trading Down 7.8%

Shares of NASDAQ MARA opened at $18.63 on Friday. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 16.78 and a beta of 6.33. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. 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 business has a fifty day simple moving average of $16.78 and a 200-day simple moving average of $15.67.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.Marathon Digital’s quarterly revenue was up 64.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.72) earnings per share. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the transaction, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the transaction, the chief executive officer directly owned 3,810,799 shares in the company, valued at $58,229,008.72. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,598 shares of company stock valued at $3,486,838. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MARA shares. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Marathon Digital in a report on Wednesday. BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Compass Point assumed coverage on Marathon Digital in a report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Cantor Fitzgerald upped their price objective on Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

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.