Mirae Asset Global Investments Co. Ltd. Sells 500,263 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARAFree Report) by 38.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,128 shares of the business services provider’s stock after selling 500,263 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.30% of Marathon Digital worth $17,954,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Marathon Digital during the fourth quarter valued at approximately $61,000. GAMMA Investing LLC bought a new position in shares of Marathon Digital during the fourth quarter valued at approximately $75,000. CWM LLC increased its stake in shares of Marathon Digital by 62.5% during the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of Marathon Digital by 307.0% during 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 purchasing an additional 6,140 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MARA. Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Chardan Capital decreased their target price 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. B. Riley cut their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. Two investment 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.33.

View Our Latest Report on Marathon Digital

Insider Transactions at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares in the company, valued at approximately $1,230,943. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Marathon Digital Stock Performance

MARA stock traded down $0.81 on Friday, hitting $20.17. The company had a trading volume of 40,044,604 shares, compared to its average volume of 40,823,532. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $19.79 and its 200 day simple moving average is $20.83. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 9.38 and a beta of 5.56.

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

About Marathon Digital

(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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