Diversified Trust Co Has $733,000 Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Diversified Trust Co reduced its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,952 shares of the business services provider’s stock after selling 1,403 shares during the quarter. Diversified Trust Co’s holdings in Marathon Digital were worth $733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Beaird Harris Wealth Management LLC grew its position in Marathon Digital by 121.1% in the first 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 in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Marathon Digital during the fourth quarter valued at approximately $61,000. GAMMA Investing LLC bought a new position in Marathon Digital in the fourth quarter valued at approximately $75,000. FinTrust Capital Advisors LLC acquired a new position in shares of Marathon Digital during the 1st quarter worth approximately $90,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Marathon Digital during the 1st quarter worth approximately $105,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Stock Performance

Marathon Digital stock traded down $0.05 during trading hours on Wednesday, hitting $15.44. The company had a trading volume of 10,471,444 shares, compared to its average volume of 59,527,445. The firm has a market cap of $4.37 billion, a PE ratio of 7.20 and a beta of 5.56. 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 one year low of $7.16 and a one year high of $34.09. The firm has a 50-day moving average of $20.10 and a 200 day moving average of $20.44.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MARA shares. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, June 4th. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Chardan Capital dropped their target price on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.55.

Insider Transactions at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now directly owns 60,046 shares of the company’s stock, valued at $1,230,943. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.11% of the company’s stock.

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.