Arlington Capital Management Inc. Acquires Shares of 65,657 Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Arlington Capital Management Inc. bought a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 65,657 shares of the business services provider’s stock, valued at approximately $1,542,000. Marathon Digital accounts for about 1.4% of Arlington Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Marathon Digital by 752.3% during the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after buying an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Marathon Digital in the fourth quarter valued at about $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital during the fourth quarter valued at about $75,000. Xponance Inc. purchased a new position in shares of Marathon Digital in the 3rd quarter worth approximately $86,000. Finally, CWM LLC raised its stake in shares of Marathon Digital by 62.5% during the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after acquiring an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 17th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Marathon Digital in a research note on Tuesday, March 19th. StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Finally, Chardan Capital reduced their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.83.

Marathon Digital Price Performance

Shares of NASDAQ:MARA traded up $0.41 during midday trading on Thursday, hitting $20.50. 16,973,517 shares of the stock were exchanged, compared to its average volume of 70,001,500. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average price of $19.60 and a 200-day moving average price of $18.46. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09. The stock has a market cap of $5.59 billion, a P/E ratio of 24.01 and a beta of 5.38.

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

About Marathon Digital

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.