Mirae Asset Global Investments Co. Ltd. Increases Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 699,063 shares of the business services provider’s stock after buying an additional 74,040 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.66% of Marathon Digital worth $19,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MARA. Advisor Group Holdings Inc. raised its stake in shares of Marathon Digital by 111.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,672 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 4,046 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Marathon Digital by 16.3% during the fourth quarter. HighTower Advisors LLC now owns 48,898 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 6,842 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Marathon Digital by 18.8% during the fourth quarter. Teacher Retirement System of Texas now owns 18,914 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 2,994 shares in the last quarter. Citigroup Inc. raised its stake in shares of Marathon Digital by 3.3% during the fourth quarter. Citigroup Inc. now owns 109,077 shares of the business services provider’s stock valued at $3,584,000 after acquiring an additional 3,452 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Marathon Digital by 247.2% during the fourth quarter. JPMorgan Chase & Co. now owns 574,948 shares of the business services provider’s stock valued at $18,894,000 after acquiring an additional 965,623 shares in the last quarter. Institutional investors own 42.59% of the company’s stock.

Insider Activity

In related news, Director Kevin A. Denuccio acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were purchased at an average cost of $13.72 per share, with a total value of $68,600.00. Following the completion of the acquisition, the director now directly owns 105,000 shares of the company’s stock, valued at $1,440,600. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.86% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA stock opened at $10.92 on Friday. The business’s fifty day simple moving average is $12.66 and its 200-day simple moving average is $14.82. The company has a market cap of $1.28 billion, a PE ratio of -5.46 and a beta of 5.34. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 1.11. Marathon Digital Holdings, Inc. has a 12-month low of $5.20 and a 12-month high of $83.45.

Marathon Digital (NASDAQ:MARAGet Rating) last announced its quarterly earnings data on Monday, August 8th. The business services provider reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.49). The company had revenue of $24.92 million for the quarter, compared to analysts’ expectations of $41.10 million. Marathon Digital had a negative net margin of 114.11% and a positive return on equity of 6.10%. Analysts expect that Marathon Digital Holdings, Inc. will post -1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Marathon Digital from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. DA Davidson reduced their price objective on shares of Marathon Digital from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Chardan Capital began coverage on shares of Marathon Digital in a research note on Friday, June 3rd. They issued a “buy” rating and a $19.00 price objective for the company. B. Riley reduced their price objective on shares of Marathon Digital from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Finally, BTIG Research reduced their price objective on shares of Marathon Digital from $50.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, June 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.13.

About Marathon Digital

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

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Institutional Ownership by Quarter for Marathon Digital (NASDAQ:MARA)

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