SteelPeak Wealth LLC Makes New Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SteelPeak Wealth LLC bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,617 shares of the business services provider’s stock, valued at approximately $624,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after buying an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd bought a new stake in Marathon Digital in the fourth quarter worth $11,531,000. Charles Schwab Investment Management Inc. increased its position in Marathon Digital by 29.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Marathon Digital by 29.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after purchasing an additional 296,776 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Marathon Digital by 203.9% in the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock worth $6,252,000 after purchasing an additional 178,578 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Insiders Place Their Bets

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the company’s 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 sale, the director now owns 60,046 shares in the company, valued at approximately $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Chardan Capital dropped their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.33.

Marathon Digital Stock Up 1.0 %

Shares of MARA traded up $0.19 during mid-day trading on Friday, hitting $19.85. 49,591,032 shares of the company traded hands, compared to its average volume of 44,208,096. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $5.61 billion, a PE ratio of 9.23 and a beta of 5.46. The business has a 50 day moving average of $19.54 and a 200 day moving average of $20.78.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current 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.