Diversified Trust Co Purchases 8,255 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Diversified Trust Co increased its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 27.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,355 shares of the business services provider’s stock after acquiring an additional 8,255 shares during the period. Diversified Trust Co’s holdings in Marathon Digital were worth $866,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MARA. Rhumbline Advisers grew its holdings in Marathon Digital by 1.9% during the third quarter. Rhumbline Advisers now owns 248,392 shares of the business services provider’s stock valued at $2,111,000 after purchasing an additional 4,616 shares during the period. Kestra Advisory Services LLC grew its holdings in 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 valued at $110,000 after purchasing an additional 1,858 shares during the period. Vanguard Group Inc. grew its holdings in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after purchasing an additional 1,000,225 shares during the period. Exchange Traded Concepts LLC grew its holdings in Marathon Digital by 13.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock valued at $18,638,000 after purchasing an additional 95,946 shares during the period. Finally, Versant Capital Management Inc lifted 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 acquiring an additional 1,467 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the sale, the director now directly owns 60,046 shares in the company, valued at $1,230,943. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.11% of the company’s stock.

Marathon Digital Price Performance

NASDAQ:MARA opened at $22.12 on Wednesday. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $6.26 billion, a P/E ratio of 10.29 and a beta of 5.56. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The business’s 50-day moving average is $19.70 and its 200 day moving average is $20.84.

Marathon Digital (NASDAQ:MARA) last posted its 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 negative return on equity of 3.80% and a net margin of 106.46%. The firm had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. On average, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently 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 report on Thursday, June 20th. 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. Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Chardan Capital lowered their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, B. Riley lowered their price objective on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Marathon Digital currently has an average rating of “Hold” and a consensus price target of $19.33.

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.