20,147 Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA) Purchased by Avaii Wealth Management LLC

Avaii Wealth Management LLC bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,147 shares of the business services provider’s stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors have also modified their holdings of MARA. Vanguard Group Inc. boosted its holdings in shares of Marathon Digital by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after buying an additional 1,000,225 shares during the period. Barclays PLC raised its position in shares of Marathon Digital by 159.2% in the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after buying an additional 323,134 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Marathon Digital by 29.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after buying an additional 296,776 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Marathon Digital during the 3rd quarter valued at approximately $1,577,000. Finally, SG Americas Securities LLC grew its holdings in shares of Marathon Digital by 203.9% during the 4th quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock valued at $6,252,000 after purchasing an additional 178,578 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MARA shares. Chardan Capital lifted their price target on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, March 4th. StockNews.com raised shares of Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a report on Tuesday, March 19th. Finally, BTIG Research raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Stock Down 4.4 %

Shares of Marathon Digital stock traded down $0.86 during trading on Monday, reaching $18.57. 25,623,472 shares of the company traded hands, compared to its average volume of 71,934,477. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The company has a 50 day moving average price of $20.96 and a 200-day moving average price of $17.95. 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 $4.97 billion, a PE ratio of 21.96 and a beta of 5.37.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The business had revenue of $156.77 million for the quarter, compared to analyst estimates of $138.15 million. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

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.