Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,773 shares of the business services provider’s stock after acquiring an additional 3,132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Digital were worth $968,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MARA. Beaird Harris Wealth Management LLC lifted its position in Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital in the 1st quarter valued at about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital in the first quarter worth about $105,000. CWM LLC boosted its stake 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 worth $107,000 after buying an additional 1,754 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Chardan Capital cut their target price on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. dropped their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.22.

Insiders Place Their Bets

In related 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 transaction, the director now owns 60,046 shares in the company, valued at $1,230,943. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.11% of the stock is owned by insiders.

Marathon Digital Price Performance

Shares of Marathon Digital stock opened at $15.26 on Wednesday. The stock has a market capitalization of $4.32 billion, a P/E ratio of 7.10 and a beta of 5.56. The business has a 50 day simple moving average of $19.17 and a two-hundred day simple moving average of $19.93. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same period in the prior year, the business posted ($0.13) EPS. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

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.