SG Americas Securities LLC reduced its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report) by 21.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,489 shares of the business services provider’s stock after selling 56,687 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Marathon Digital worth $4,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MARA. Vanguard Group Inc. grew its holdings in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after acquiring an additional 1,000,225 shares during the period. Versant Capital Management Inc lifted its holdings in Marathon Digital by 752.3% in the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock worth $39,000 after purchasing an additional 1,467 shares during the last quarter. Pasadena Private Wealth LLC acquired a new stake in Marathon Digital in the 4th quarter worth approximately $237,000. Brookstone Capital Management lifted its holdings in Marathon Digital by 34.1% in the 4th quarter. Brookstone Capital Management now owns 102,111 shares of the business services provider’s stock worth $2,399,000 after purchasing an additional 25,946 shares during the last quarter. Finally, Sara Bay Financial increased its position in Marathon Digital by 17.0% in the 4th quarter. Sara Bay Financial now owns 88,688 shares of the business services provider’s stock worth $2,083,000 after buying an additional 12,870 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

Shares of MARA stock opened at $20.77 on Friday. The stock’s fifty day simple moving average is $20.04 and its 200 day simple moving average is $20.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 23.07 and a quick ratio of 23.07. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 9.66 and a beta of 5.56. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09.

Marathon Digital (NASDAQ:MARA – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. On average, analysts expect that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. B. Riley lifted their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 4th. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Chardan Capital lowered their price objective on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and an average target price of $19.61.

Read Our Latest Stock Report on Marathon Digital

Insider Activity at Marathon Digital

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.11% of the stock is owned by insiders.

Marathon Digital Company Profile

(Free Report)

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.

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