LPL Financial LLC Buys 19,589 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

LPL Financial LLC raised its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 573,321 shares of the business services provider’s stock after purchasing an additional 19,589 shares during the quarter. LPL Financial LLC owned 0.34% of Marathon Digital worth $7,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MARA. Renaissance Technologies LLC raised its stake in shares of Marathon Digital by 297.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,636,538 shares of the business services provider’s stock valued at $8,739,000 after purchasing an additional 1,224,300 shares during the period. Two Sigma Investments LP bought a new position in shares of Marathon Digital during the 4th quarter worth approximately $4,033,000. Vanguard Group Inc. grew its stake in shares of Marathon Digital by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,668,015 shares of the business services provider’s stock worth $114,255,000 after acquiring an additional 978,569 shares in the last quarter. Morgan Stanley grew its stake in shares of Marathon Digital by 42.9% during the 4th quarter. Morgan Stanley now owns 3,181,334 shares of the business services provider’s stock worth $10,880,000 after acquiring an additional 954,370 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Marathon Digital during the 4th quarter worth approximately $2,852,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ MARA opened at $8.81 on Wednesday. The firm has a 50-day moving average of $9.50 and a 200-day moving average of $11.36. The company has a debt-to-equity ratio of 1.24, a quick ratio of 14.91 and a current ratio of 14.91. The stock has a market cap of $1.91 billion, a PE ratio of -2.22 and a beta of 5.15. Marathon Digital Holdings, Inc. has a 52-week low of $3.11 and a 52-week high of $19.88.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, August 8th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.10). The company had revenue of $81.76 million for the quarter, compared to analyst estimates of $83.20 million. Marathon Digital had a negative return on equity of 15.80% and a negative net margin of 284.21%. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

MARA has been the subject of several analyst reports. JPMorgan Chase & Co. started coverage on Marathon Digital in a report on Wednesday, October 11th. They issued an “underweight” rating and a $5.00 price objective for the company. Chardan Capital downgraded Marathon Digital from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Monday, August 7th. Needham & Company LLC initiated coverage on shares of Marathon Digital in a research report on Monday, October 2nd. They set a “hold” rating on the stock. B. Riley lifted their price objective on shares of Marathon Digital from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, August 10th. Finally, Compass Point lowered their price objective on shares of Marathon Digital from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.91.

Insider Transactions at Marathon Digital

In other news, Director Said Ouissal sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $10.95, for a total transaction of $164,250.00. Following the transaction, the director now owns 15,217 shares in the company, valued at $166,626.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Said Ouissal sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $10.95, for a total value of $164,250.00. Following the transaction, the director now directly owns 15,217 shares in the company, valued at $166,626.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ashu Swami sold 11,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $13.80, for a total transaction of $151,800.00. Following the completion of the transaction, the director now owns 7,491 shares in the company, valued at $103,375.80. The disclosure for this sale can be found here. 1.11% of the stock is owned by corporate insiders.

Marathon Digital Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.