Thoroughbred Financial Services LLC Purchases New Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Thoroughbred Financial Services LLC purchased a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,625 shares of the business services provider’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MARA. Victory Capital Management Inc. raised its stake in Marathon Digital by 57.2% in the 4th quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after acquiring an additional 10,627 shares during the period. Principal Financial Group Inc. boosted its holdings in Marathon Digital by 38.5% in the 4th quarter. Principal Financial Group Inc. now owns 24,607 shares of the business services provider’s stock worth $578,000 after buying an additional 6,836 shares during the period. Kingsview Wealth Management LLC bought a new stake in Marathon Digital during the 4th quarter valued at $297,000. Gladstone Institutional Advisory LLC lifted its position in shares of 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 acquiring an additional 7,001 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Marathon Digital by 6,222.0% during the 4th 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. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $15.87 on Wednesday. The firm has a fifty day moving average of $18.19 and a 200 day moving average of $19.20. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market capitalization of $4.49 billion, a PE ratio of 7.38 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was up 77.5% on a year-over-year basis. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on MARA. B. Riley lifted their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. decreased their price target 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. 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’s stock. According to data from MarketBeat.com, Marathon Digital has an average rating of “Hold” and an average 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.