Cetera Investment Advisers Buys 95,774 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Cetera Investment Advisers grew its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 58.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 259,447 shares of the business services provider’s stock after buying an additional 95,774 shares during the period. Cetera Investment Advisers owned approximately 0.09% of Marathon Digital worth $5,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Marathon Digital by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Marathon Digital by 186.6% in the 2nd 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 buying an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its position in shares of Marathon Digital by 4,394.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after buying an additional 1,324,625 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in Marathon Digital during the 2nd quarter worth $11,920,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Thursday, June 20th. B. Riley raised their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Finally, Macquarie initiated coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.61.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,212 shares of company stock worth $726,178 in the last quarter. Corporate insiders own 1.11% of the company’s stock.

Marathon Digital Price Performance

Shares of MARA opened at $15.83 on Wednesday. The company has a 50 day moving average of $16.28 and a 200-day moving average of $18.58. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4.48 billion, a P/E ratio of 7.36 and a beta of 5.50. Marathon Digital Holdings, Inc. has a twelve month low of $7.55 and a twelve month high of $34.09.

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 business had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. The firm’s quarterly revenue was up 77.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 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.