Sei Investments Co. Purchases New Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Sei Investments Co. purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,148 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Marathon Digital by 1.9% during 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 buying an additional 441,455 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Marathon Digital by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after acquiring an additional 2,340,472 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. increased its holdings in 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 acquiring an additional 1,324,625 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Marathon Digital by 54.7% during the 2nd quarter. Van ECK Associates Corp now owns 980,320 shares of the business services provider’s stock worth $19,459,000 after acquiring an additional 346,637 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MARA has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Thursday. Cantor Fitzgerald started coverage on shares of Marathon Digital in a research note on Thursday. They issued an “overweight” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Macquarie started 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. Finally, B. Riley upped their price objective 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.79.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred 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 sale, the chief executive officer now owns 4,278,309 shares in the company, 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 SEC, which is available at the SEC website. In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,212 shares of company stock worth $726,178 over the last quarter. Insiders own 0.97% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA stock opened at $16.08 on Friday. The company has a 50 day moving average price of $16.11 and a 200-day moving average price of $18.50. Marathon Digital Holdings, Inc. has a 52 week low of $7.55 and a 52 week high of $34.09. The firm has a market capitalization of $4.74 billion, a PE ratio of 10.31 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) EPS. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Marathon Digital Company 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.