Marathon Patent Group, Inc. (MARA) Announces Earnings Results
Marathon Patent Group, Inc. (NASDAQ:MARA) announced its quarterly earnings data on Monday. The business services provider reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05, Bloomberg Earnings reports. The firm had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.50 million. Marathon Patent Group had a negative return on equity of 1,139.06% and a negative net margin of 81.91%.
Shares of Marathon Patent Group (NASDAQ:MARA) traded down 8.5274% on Tuesday, reaching $0.2553. The company’s stock had a trading volume of 810,778 shares. The firm has a 50 day moving average of $0.32 and a 200 day moving average of $0.70. The company’s market cap is $5.94 million. Marathon Patent Group has a 52-week low of $0.13 and a 52-week high of $3.44.
Separately, Zacks Investment Research lowered Marathon Patent Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st.
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In other Marathon Patent Group news, major shareholder Jeff Feinberg sold 419,482 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $0.37, for a total transaction of $155,208.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 19.80% of the company’s stock.
An institutional investor recently raised its position in Marathon Patent Group stock. Renaissance Technologies LLC raised its stake in Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 84,000 shares of the business services provider’s stock after buying an additional 60,900 shares during the period. Renaissance Technologies LLC owned about 0.56% of Marathon Patent Group worth $144,000 as of its most recent SEC filing. Institutional investors own 5.67% of the company’s stock.
Marathon Patent Group Company Profile
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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