Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Arizona State Retirement System

Posted by Defense World Staff on May 26th, 2023

Arizona State Retirement System increased its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,313 shares of the business services provider’s stock after purchasing an additional 3,868 shares during the period. Arizona State Retirement System’s holdings in Marathon Digital were worth $107,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in Marathon Digital by 3.7% during the fourth quarter. LPL Financial LLC now owns 491,641 shares of the business services provider’s stock valued at $1,681,000 after purchasing an additional 17,545 shares during the last quarter. IFP Advisors Inc increased its holdings in Marathon Digital by 18.6% during the 4th quarter. IFP Advisors Inc now owns 130,503 shares of the business services provider’s stock worth $5,029,000 after purchasing an additional 20,449 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Marathon Digital by 40.0% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,728 shares of the business services provider’s stock worth $104,000 after buying an additional 8,783 shares during the last quarter. ProShare Advisors LLC lifted its stake in Marathon Digital by 23.2% in the 4th quarter. ProShare Advisors LLC now owns 15,064 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in Marathon Digital by 48.1% during the fourth quarter. Great Valley Advisor Group Inc. now owns 36,195 shares of the business services provider’s stock worth $124,000 after acquiring an additional 11,750 shares during the last quarter. Institutional investors own 39.88% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $9.11 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -1.63 and a beta of 4.98. Marathon Digital Holdings, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $18.88. The company has a debt-to-equity ratio of 1.34, a quick ratio of 16.22 and a current ratio of 16.22. The company has a 50 day moving average price of $9.22 and a 200 day moving average price of $7.41.

Marathon Digital (NASDAQ:MARA – Get Rating) last issued its earnings results on Thursday, March 16th. The business services provider reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. Marathon Digital had a negative net margin of 569.32% and a negative return on equity of 25.22%. The business had revenue of $28.42 million for the quarter, compared to the consensus estimate of $40.47 million. Equities research analysts forecast that Marathon Digital Holdings, Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of recent research reports. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Marathon Digital in a report on Monday, April 3rd. B. Riley lifted their price target on Marathon Digital from $7.00 to $8.00 in a report on Monday, May 15th. Finally, Compass Point lifted their price target on Marathon Digital from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, April 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and a consensus target price of $12.11.

Marathon Digital Profile

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Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.