Marathon Patent Group Inc. (MARA) Raised to “Hold” at Zacks Investment Research
Marathon Patent Group Inc. (NASDAQ:MARA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Marathon Patent Group Inc. is a patent and patent rights acquisition and licensing company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. It serves its clients through two complementary business units: IP Services and IP Licensing and Enforcement business. Marathon Patent Group, Inc. is based in Alexandria, Virginia. “
Shares of Marathon Patent Group (NASDAQ:MARA) opened at 1.83 on Wednesday. The firm’s market cap is $27.58 million. Marathon Patent Group has a 1-year low of $1.29 and a 1-year high of $3.44. The stock has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.63.
Marathon Patent Group (NASDAQ:MARA) last released its quarterly earnings data on Monday, November 14th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.17. Marathon Patent Group had a negative return on equity of 10.36% and a negative net margin of 14.15%. On average, equities research analysts expect that Marathon Patent Group will post ($0.23) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in MARA. Cambridge Investment Research Advisors Inc. raised its stake in Marathon Patent Group by 17.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 848,449 shares of the company’s stock valued at $2,325,000 after buying an additional 126,565 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Marathon Patent Group by 3.5% in the second quarter. Vanguard Group Inc. now owns 204,734 shares of the company’s stock valued at $561,000 after buying an additional 6,900 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Marathon Patent Group during the third quarter valued at approximately $118,000. 9.41% of the stock is owned by institutional investors and hedge funds.
About Marathon Patent Group
Marathon Patent Group Inc (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets.
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