166,601 Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA) Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 166,601 shares of the business services provider’s stock, valued at approximately $3,307,000. Texas Permanent School Fund Corp owned 0.06% of Marathon Digital at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MARA. Vanguard Group Inc. lifted its holdings in Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after acquiring an additional 4,950,392 shares during the period. Bank of New York Mellon Corp lifted its holdings in Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. lifted its holdings in Marathon Digital by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after acquiring an additional 1,324,625 shares during the period. Hel Ved Capital Management Ltd acquired a new stake in Marathon Digital in the fourth quarter valued at $11,531,000. Finally, Rhumbline Advisers increased its position in shares of Marathon Digital by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after buying an additional 439,309 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. B. Riley raised their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus price target of $19.22.

Marathon Digital Stock Performance

NASDAQ MARA opened at $16.12 on Friday. The firm has a market capitalization of $4.75 billion, a P/E ratio of 7.50 and a beta of 5.51. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year 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. The business’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $19.43.

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