American International Group Inc. Increases Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

American International Group Inc. raised its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,896 shares of the business services provider’s stock after purchasing an additional 20,472 shares during the quarter. American International Group Inc.’s holdings in Marathon Digital were worth $2,487,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intrepid Financial Planning Group LLC boosted its holdings in Marathon Digital by 4.1% in the 4th quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock worth $555,000 after buying an additional 930 shares during the period. Versant Capital Management Inc grew its position in shares of Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,467 shares in the last quarter. CWM LLC raised its stake in shares of Marathon Digital by 62.5% during the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the period. Kestra Advisory Services LLC lifted its holdings in Marathon Digital by 16.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Marathon Digital in the 4th quarter worth about $61,000. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $18.69 on Tuesday. The stock’s 50-day moving average is $19.20 and its 200 day moving average is $20.67. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 8.69 and a beta of 5.46. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $165.20 million for the quarter, compared to analysts’ expectations of $193.89 million. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the completion of the sale, the director now directly owns 60,046 shares in the company, valued at $1,230,943. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on MARA shares. Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. Chardan Capital reduced their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.33.

Marathon Digital Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.