Private Advisor Group LLC Increases Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Private Advisor Group LLC boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 340.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 177,137 shares of the business services provider’s stock after buying an additional 136,934 shares during the quarter. Private Advisor Group LLC’s holdings in Marathon Digital were worth $3,516,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Marathon Digital by 186.6% during the 2nd 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 buying an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Marathon Digital by 4,394.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after buying an additional 1,324,625 shares during the last quarter. Hel Ved Capital Management Ltd bought a new position in shares of Marathon Digital in the fourth quarter valued at approximately $11,531,000. Finally, Rhumbline Advisers increased its position in shares of Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after acquiring an additional 439,309 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. B. Riley lifted their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.22.

Marathon Digital Price Performance

NASDAQ MARA opened at $15.79 on Thursday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.65 billion, a PE ratio of 7.34 and a beta of 5.51. Marathon Digital Holdings, Inc. has a 52 week low of $7.16 and a 52 week high of $34.09. The firm’s 50-day simple moving average is $18.55 and its two-hundred day simple moving average is $19.58.

Marathon Digital (NASDAQ:MARA) last posted 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 business 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 5.15%. The business’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the firm earned ($0.13) EPS. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

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.