Lake Hills Wealth Management LLC Purchases Shares of 10,221 Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Lake Hills Wealth Management LLC acquired a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,221 shares of the business services provider’s stock, valued at approximately $166,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 buying an additional 441,455 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Marathon Digital by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Marathon Digital by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Marathon Digital by 12.7% in the second quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock valued at $26,477,000 after purchasing an additional 149,805 shares during the period. 44.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MARA shares. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research note on Thursday. They issued an “overweight” rating and a $21.00 price target on the stock. Macquarie assumed coverage on Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday. Finally, B. Riley lifted their target price on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.79.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,212 shares of company stock valued at $726,178. 1.11% of the stock is currently owned by corporate insiders.

Marathon Digital Price Performance

Shares of Marathon Digital stock traded up $0.85 on Friday, reaching $16.08. 36,454,615 shares of the stock were exchanged, compared to its average volume of 54,042,336. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market cap of $4.55 billion, a PE ratio of 7.48 and a beta of 5.50. The firm’s 50 day moving average is $16.11 and its 200-day moving average is $18.48. Marathon Digital Holdings, Inc. has a one year low of $7.55 and a one year high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its 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). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal 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.