Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAFree Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,974 shares of the business services provider’s stock after purchasing an additional 1,430 shares during the period. Commonwealth Equity Services LLC’s holdings in Marathon Digital were worth $1,603,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital in the fourth quarter valued at about $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital in the fourth quarter valued at about $75,000. CWM LLC boosted its holdings in shares of Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Marathon Digital by 307.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 8,140 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 6,140 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $20.17 on Friday. The firm has a 50 day simple moving average of $19.79 and a 200-day simple moving average of $20.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The firm has a market cap of $5.70 billion, a PE ratio of 9.38 and a beta of 5.56. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The company had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current year.

Insider Activity at Marathon Digital

In related news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the sale, the director now directly owns 60,046 shares in the company, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Chardan Capital reduced their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Finally, B. Riley reduced their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.33.

Check Out Our Latest Stock Report on MARA

Marathon Digital Company Profile

(Free Report)

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.

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

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