Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAFree Report) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,514 shares of the business services provider’s stock after purchasing an additional 7,280 shares during the period. Jennison Associates LLC’s holdings in Marathon Digital were worth $644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual of America Capital Management LLC acquired a new stake in Marathon Digital in the 1st quarter valued at about $1,205,000. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital in the 1st quarter valued at about $90,000. Private Advisor Group LLC increased its holdings in shares of Marathon Digital by 9.3% in the 1st quarter. Private Advisor Group LLC now owns 40,203 shares of the business services provider’s stock valued at $908,000 after purchasing an additional 3,421 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Marathon Digital by 2.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after purchasing an additional 1,430 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Marathon Digital by 22.5% in the 1st quarter. Principal Financial Group Inc. now owns 30,141 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 5,534 shares during the period. Institutional investors own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

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

Marathon Digital Stock Performance

NASDAQ MARA opened at $18.89 on Thursday. 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 firm’s fifty day moving average price is $19.94 and its two-hundred day moving average price is $20.72. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The firm has a market capitalization of $5.34 billion, a P/E ratio of 8.79 and a beta of 5.56.

Marathon Digital (NASDAQ:MARAGet Free Report) last released its quarterly earnings data 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). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The business had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MARA shares. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. B. Riley dropped their price objective on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Chardan Capital decreased their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.33.

Read Our Latest Report on Marathon Digital

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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