Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,473,587 shares of the business services provider’s stock after acquiring an additional 4,950,392 shares during the quarter. Vanguard Group Inc. owned about 8.77% of Marathon Digital worth $551,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intrepid Financial Planning Group LLC lifted its holdings in shares of 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 valued at $555,000 after purchasing an additional 930 shares during the last quarter. Versant Capital Management Inc lifted its stake in 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 buying an additional 1,467 shares during the last quarter. CWM LLC boosted its holdings in shares of Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,754 shares during the period. Kestra Advisory Services LLC grew its position in shares of Marathon Digital by 16.8% during the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after acquiring an additional 1,858 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Marathon Digital in the 4th quarter valued at $61,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction on 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 owns 60,046 shares in the company, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MARA shares. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley reduced their price objective on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Chardan Capital cut their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.33.

Marathon Digital Trading Down 2.7 %

MARA opened at $18.69 on Tuesday. The firm’s 50 day moving average is $19.20 and its 200-day moving average is $20.67. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.29 billion, a P/E ratio of 8.69 and a beta of 5.46.

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

Marathon Digital Company 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.