AlphaMark Advisors LLC Takes Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

AlphaMark Advisors LLC acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,096 shares of the business services provider’s stock, valued at approximately $379,000.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after purchasing an additional 441,455 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after buying an additional 410,146 shares during the period. Van ECK Associates Corp increased its position in Marathon Digital by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock worth $15,499,000 after purchasing an additional 119,470 shares during the last quarter. Hel Ved Capital Management Ltd acquired a new position in shares of Marathon Digital in the 4th quarter valued at $11,531,000. Finally, Swiss National Bank grew its stake in shares of Marathon Digital by 5.4% during the 1st quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock valued at $9,926,000 after buying an additional 22,600 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Said Ouissal sold 10,217 shares of the company’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 value of $209,448.50. Following the completion of the sale, the director now directly owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. Chardan Capital cut their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Finally, B. Riley increased their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.55.

Marathon Digital Stock Performance

Shares of NASDAQ:MARA traded up $0.32 on Thursday, reaching $15.46. 34,620,475 shares of the company’s stock were exchanged, compared to its average volume of 59,503,313. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The business’s 50-day moving average is $19.98 and its two-hundred day moving average is $20.40. 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 firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 7.19 and a beta of 5.56.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) 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 negative return on equity of 5.86% and a net margin of 62.57%. The company’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.11 EPS 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.