Thoroughbred Financial Services LLC Makes New Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Thoroughbred Financial Services LLC bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 2nd quarter, Holdings Channel.com reports. The firm bought 15,625 shares of the business services provider’s stock, valued at approximately $310,000.

Several other hedge funds also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC increased its position in shares of 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 acquiring an additional 695 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital in the 1st quarter worth approximately $90,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Marathon Digital during the first quarter valued at approximately $105,000. GAMMA Investing LLC lifted its stake in Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares during the period. Finally, Natixis bought a new stake in Marathon Digital in the first quarter valued at $177,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MARA. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, B. Riley upped 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 equities research 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’s stock. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus price target of $19.22.

Marathon Digital Stock Performance

Shares of MARA opened at $15.87 on Wednesday. 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 stock has a market cap of $4.49 billion, a P/E ratio of 7.38 and a beta of 5.51. The business’s 50 day moving average price is $18.19 and its 200-day moving average price is $19.20. Marathon Digital Holdings, Inc. has a 52 week low of $7.16 and a 52 week high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS 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 company had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same period last year, the firm posted ($0.13) earnings per share. The company’s revenue was up 77.5% compared to the same quarter last year. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal 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.