Newbridge Financial Services Group Inc. Decreases Stock Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Newbridge Financial Services Group Inc. cut its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 23.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,000 shares of the business services provider’s stock after selling 600 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Marathon Digital were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Marathon Digital by 752.3% in the fourth quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 1,467 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Marathon Digital in the fourth quarter valued at $61,000. GAMMA Investing LLC purchased a new position in shares of Marathon Digital in the fourth quarter valued at $75,000. CWM LLC boosted 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 purchasing an additional 1,754 shares during the period. Finally, Kestra Advisory Services LLC boosted its stake in shares of Marathon Digital by 16.8% in the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 1,858 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Up 1.3 %

Shares of NASDAQ:MARA opened at $20.28 on Wednesday. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 9.43 and a beta of 5.46. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The company’s fifty day moving average is $18.94 and its two-hundred day moving average is $20.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07.

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MARA. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley cut their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Chardan Capital cut their price target 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Marathon Digital has an average rating of “Hold” and an average target price of $19.33.

Marathon Digital 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.