Ameritas Investment Partners Inc. Grows Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Ameritas Investment Partners Inc. raised its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,359 shares of the business services provider’s stock after buying an additional 881 shares during the period. Ameritas Investment Partners Inc.’s holdings in Marathon Digital were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MARA. Harvest Fund Management Co. Ltd purchased a new position in shares of Marathon Digital during the fourth quarter worth $61,000. GAMMA Investing LLC acquired a new stake in shares of Marathon Digital in the fourth quarter valued at $75,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Marathon Digital in the first quarter valued at $90,000. CWM LLC raised its stake in shares of Marathon Digital by 62.5% in the fourth quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,754 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Marathon Digital by 307.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 8,140 shares of the business services provider’s stock valued at $184,000 after acquiring an additional 6,140 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Performance

Shares of MARA traded down $0.85 during midday trading on Wednesday, reaching $20.80. 32,264,198 shares of the stock were exchanged, compared to its average volume of 62,098,625. The business’s 50-day moving average price is $20.79 and its 200 day moving average price is $20.54. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.88 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The company had revenue of $165.20 million for the quarter, compared to analysts’ expectations of $193.89 million. On average, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MARA. Chardan Capital cut their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. B. Riley raised their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. JPMorgan Chase & Co. cut their price target on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Finally, StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.61.

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.