Tobam Has $56,000 Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Tobam lessened its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 26.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,821 shares of the business services provider’s stock after selling 1,014 shares during the period. Tobam’s holdings in Marathon Digital were worth $56,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after buying an additional 1,327,969 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in shares of Marathon Digital during the fourth quarter worth $11,531,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after acquiring an additional 410,146 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Marathon Digital during the 1st quarter valued at $3,696,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Down 1.7 %

Shares of NASDAQ MARA opened at $16.70 on Friday. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. The company’s 50 day moving average price is $19.29 and its 200-day moving average price is $20.19. The company has a market capitalization of $4.72 billion, a P/E ratio of 7.77 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.86%. The firm had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same period last year, the company posted ($0.13) EPS. The business’s revenue was up 77.5% compared to the same quarter last year. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.11 earnings per share for the current year.

Insider Buying and Selling

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 12th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MARA. JPMorgan Chase & Co. lowered their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley boosted their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a research report on Friday, May 10th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.22.

Marathon Digital Company 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.