SRN Advisors LLC Has $3 Million Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SRN Advisors LLC increased its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 136.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,252 shares of the business services provider’s stock after purchasing an additional 87,274 shares during the quarter. Marathon Digital makes up approximately 2.5% of SRN Advisors LLC’s portfolio, making the stock its 3rd biggest holding. SRN Advisors LLC owned 0.05% of Marathon Digital worth $3,002,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Beaird Harris Wealth Management LLC lifted its holdings 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 worth $29,000 after buying an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital in the 1st quarter worth approximately $90,000. DekaBank Deutsche Girozentrale bought a new position in Marathon Digital in the 1st quarter valued at $105,000. GAMMA Investing LLC grew its position in shares of Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 3,565 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Marathon Digital by 1,555.6% in the second quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock worth $164,000 after purchasing an additional 7,778 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the 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 transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s 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 of the company’s stock, valued at approximately $67,169,451.30. The disclosure for this sale can be found here. Insiders have sold 46,212 shares of company stock valued at $726,178 in the last ninety days. 1.11% of the stock is currently owned by company insiders.

Marathon Digital Stock Performance

MARA stock opened at $15.07 on Wednesday. The stock’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $18.78. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The stock has a market capitalization of $4.26 billion, a PE ratio of 7.01 and a beta of 5.51.

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 analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MARA. JPMorgan Chase & Co. lowered their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. B. Riley raised their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Finally, Macquarie initiated coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $19.61.

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.