Victory Capital Management Inc. Acquires 23,242 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Victory Capital Management Inc. boosted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 67.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,695 shares of the business services provider’s stock after purchasing an additional 23,242 shares during the quarter. Victory Capital Management Inc.’s holdings in Marathon Digital were worth $1,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MARA. Impact Partnership Wealth LLC grew its stake in Marathon Digital by 686.5% during the 2nd quarter. Impact Partnership Wealth LLC now owns 18,372 shares of the business services provider’s stock worth $365,000 after buying an additional 16,036 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Marathon Digital by 13.8% in the 2nd quarter. Foundations Investment Advisors LLC now owns 65,602 shares of the business services provider’s stock worth $1,302,000 after purchasing an additional 7,942 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in Marathon Digital during the 2nd quarter worth approximately $1,314,000. Rhumbline Advisers increased its stake in Marathon Digital by 126.5% during the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares in the last quarter. Finally, Aptus Capital Advisors LLC purchased a new stake in shares of Marathon Digital in the second quarter valued at approximately $4,081,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Up 0.7 %

Shares of NASDAQ MARA opened at $15.45 on Friday. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The firm has a fifty day moving average of $17.98 and a 200-day moving average of $19.07. The stock has a market capitalization of $4.37 billion, a PE ratio of 7.19 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 announced its quarterly earnings data 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). The company had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm’s quarterly revenue 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. On average, analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Finally, B. Riley raised their price objective on shares of 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 stock. According to MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average target price 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.