Jennison Associates LLC Buys Shares of 21,234 Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Jennison Associates LLC bought a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,234 shares of the business services provider’s stock, valued at approximately $499,000.

Several other large investors have also modified their holdings of MARA. Vanguard Group Inc. boosted its position in shares of Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after buying an additional 1,000,225 shares during the period. Barclays PLC boosted its position in shares of Marathon Digital by 159.2% during the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after buying an additional 323,134 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after acquiring an additional 296,776 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Marathon Digital during the third quarter valued at approximately $1,577,000. Finally, SG Americas Securities LLC raised its stake in shares of Marathon Digital by 203.9% during the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after acquiring an additional 178,578 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MARA. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, January 17th. Chardan Capital lifted their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Finally, StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Performance

Shares of MARA stock opened at $19.43 on Monday. The business’s fifty day simple moving average is $20.96 and its 200-day simple moving average is $17.95. The company has a market cap of $5.20 billion, a PE ratio of 23.13 and a beta of 5.36. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share 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.