Brookstone Capital Management Cuts Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Brookstone Capital Management cut its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 18.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,287 shares of the business services provider’s stock after selling 18,824 shares during the period. Brookstone Capital Management’s holdings in Marathon Digital were worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Intrepid Financial Planning Group LLC boosted its stake in Marathon Digital by 4.1% during the fourth quarter. Intrepid Financial Planning Group LLC now owns 23,610 shares of the business services provider’s stock valued at $555,000 after buying an additional 930 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,467 shares during the last quarter. CWM LLC grew 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 purchasing an additional 1,754 shares in the last quarter. Kestra Advisory Services LLC increased its position in Marathon Digital by 16.8% in the third 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Marathon Digital during the fourth quarter valued at $61,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Digital

In related news, Director Said Ouissal sold 10,217 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, B. Riley decreased their price target on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Marathon Digital has an average rating of “Hold” and an average target price of $19.33.

Marathon Digital Stock Performance

MARA stock opened at $19.85 on Friday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 9.23 and a beta of 5.46. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month 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 business’s fifty day simple moving average is $19.54 and its two-hundred day simple moving average is $20.71.

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 company had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. Analysts predict that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current year.

About Marathon Digital

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.