Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Bought by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC raised its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,561 shares of the business services provider’s stock after purchasing an additional 1,845 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Marathon Digital were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Beaird Harris Wealth Management LLC grew its stake in shares of Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Marathon Digital in the fourth quarter valued at $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital in the fourth quarter valued at $75,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital in the first quarter valued at $90,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital during the first quarter worth about $105,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MARA shares. Chardan Capital lowered 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, May 8th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. JPMorgan Chase & Co. lowered their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Finally, StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.61.

Marathon Digital Stock Down 8.2 %

MARA traded down $1.41 on Wednesday, reaching $15.84. The company’s stock had a trading volume of 28,576,879 shares, compared to its average volume of 60,446,680. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 7.44 and a beta of 5.56. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The business’s 50 day moving average is $20.48 and its 200 day moving average is $20.45.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a negative return on equity of 5.86% and a net margin of 62.57%. The company’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.13) EPS. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.11 EPS for the current fiscal year.

Insider Activity

In related news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the completion of the sale, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.11% of the stock is owned by insiders.

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.