Commonwealth Equity Services LLC Purchases 10,674 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Commonwealth Equity Services LLC increased its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 15.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,648 shares of the business services provider’s stock after purchasing an additional 10,674 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Marathon Digital were worth $1,621,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Marathon Digital by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after acquiring an additional 441,455 shares during the period. Bank of New York Mellon Corp grew 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 purchasing an additional 1,327,969 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Marathon Digital by 4,394.8% during 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 purchasing an additional 1,324,625 shares in the last quarter. Finally, Hel Ved Capital Management Ltd acquired a new position in shares of Marathon Digital during the 4th quarter worth approximately $11,531,000. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Performance

NASDAQ MARA opened at $16.12 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 7.50 and a beta of 5.51. The firm’s 50 day simple moving average is $18.26 and its 200 day simple moving average is $19.43.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share 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 company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The business’s quarterly revenue was up 77.5% on a year-over-year basis. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MARA shares. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. Finally, B. Riley increased their price target 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.22.

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.