Intrepid Financial Planning Group LLC Sells 1,000 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Intrepid Financial Planning Group LLC reduced its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,610 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Intrepid Financial Planning Group LLC’s holdings in Marathon Digital were worth $449,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Marathon Digital by 57.2% in the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after buying an additional 10,627 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Marathon Digital by 38.5% during the 4th quarter. Principal Financial Group Inc. now owns 24,607 shares of the business services provider’s stock valued at $578,000 after purchasing an additional 6,836 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Marathon Digital during the 4th quarter valued at $297,000. Gladstone Institutional Advisory LLC boosted its position in Marathon Digital by 24.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 35,391 shares of the business services provider’s stock worth $831,000 after purchasing an additional 7,001 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of Marathon Digital by 6,222.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 64,800 shares of the business services provider’s stock valued at $1,522,000 after purchasing an additional 63,775 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ MARA opened at $15.34 on Thursday. The firm has a 50-day moving average price of $18.06 and a two-hundred day moving average price of $19.10. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a market capitalization of $4.34 billion, a P/E ratio of 7.13 and a beta of 5.51. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (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 the consensus estimate of $157.86 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The company’s quarterly revenue was up 77.5% on a year-over-year basis. Analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on MARA. JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. Finally, B. Riley upped their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Two investment 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.22.

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.