Harvest Portfolios Group Inc. Grows Stake in Marathon Digital Holdings, Inc. $MARA

Harvest Portfolios Group Inc. grew its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 103.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,849 shares of the business services provider’s stock after purchasing an additional 68,202 shares during the period. Harvest Portfolios Group Inc.’s holdings in Marathon Digital were worth $2,099,000 at the end of the most recent quarter.

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

Marathon Digital Stock Down 0.6%

MARA stock opened at $15.87 on Friday. The company has a market capitalization of $5.88 billion, a P/E ratio of 14.30 and a beta of 6.40. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The firm’s fifty day simple moving average is $18.09 and its 200-day simple moving average is $16.66. 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 (NASDAQ:MARA) last posted its earnings results 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). Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Compass Point assumed coverage on shares of Marathon Digital in a research report on Monday, September 15th. They set a “neutral” rating and a $18.00 target price on the stock. Cantor Fitzgerald lowered their price objective 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. Macquarie boosted their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Piper Sandler upped their target price on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, 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. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Marathon Digital presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $19.57, for a total value of $538,272.85. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 58,103 shares in the company, valued at approximately $884,327.66. This represents a 20.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 203,598 shares of company stock valued at $3,600,164 in the last quarter. 0.80% of the stock is currently owned by company insiders.

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.