SG Americas Securities LLC Has $689,000 Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SG Americas Securities LLC reduced its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 71.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 42,454 shares of the business services provider’s stock after selling 107,008 shares during the quarter. SG Americas Securities LLC’s holdings in Marathon Digital were worth $689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC boosted its stake in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after buying an additional 695 shares during the period. FinTrust Capital Advisors LLC purchased a new position in Marathon Digital in the first quarter valued at about $90,000. DekaBank Deutsche Girozentrale acquired a new position in Marathon Digital in the 1st quarter worth about $105,000. GAMMA Investing LLC raised its stake 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 worth $136,000 after purchasing an additional 3,565 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Marathon Digital by 1,555.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock valued at $164,000 after buying an additional 7,778 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MARA has been the topic of several recent research reports. B. Riley raised their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Macquarie assumed coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Marathon Digital in a research report on Thursday. They set an “overweight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Marathon Digital presently has an average rating of “Hold” and a consensus price target of $19.79.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction 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 $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. 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. Insiders own 1.11% of the company’s stock.

Marathon Digital Stock Performance

MARA opened at $16.08 on Monday. 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’s 50 day moving average price is $16.11 and its two-hundred day moving average price is $18.46. The firm has a market capitalization of $4.55 billion, a P/E ratio of 7.48 and a beta of 5.50. Marathon Digital Holdings, Inc. has a 12-month low of $7.55 and a 12-month high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data 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 company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) EPS. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 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.