Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Rating) by 11.8% in the 1st quarter, Holdings Channel reports. The firm owned 699,063 shares of the business services provider’s stock after purchasing an additional 74,040 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Marathon Digital were worth $19,539,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Marathon Digital by 6.8% in the 1st quarter. State Street Corp now owns 2,217,363 shares of the business services provider’s stock valued at $61,975,000 after acquiring an additional 141,559 shares during the last quarter. Geode Capital Management LLC raised its holdings in Marathon Digital by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,688,561 shares of the business services provider’s stock valued at $55,486,000 after acquiring an additional 36,312 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Marathon Digital by 871.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,417,438 shares of the business services provider’s stock valued at $46,577,000 after acquiring an additional 1,271,500 shares during the last quarter. Toroso Investments LLC raised its holdings in Marathon Digital by 27.3% in the 1st quarter. Toroso Investments LLC now owns 1,222,748 shares of the business services provider’s stock valued at $34,176,000 after acquiring an additional 262,170 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Marathon Digital by 138.1% in the 1st quarter. Allianz Asset Management GmbH now owns 1,161,688 shares of the business services provider’s stock valued at $32,470,000 after acquiring an additional 673,764 shares during the last quarter. Institutional investors and hedge funds own 42.59% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Kevin A. Denuccio purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was bought at an average price of $13.72 per share, with a total value of $68,600.00. Following the transaction, the director now directly owns 105,000 shares of the company’s stock, valued at approximately $1,440,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on MARA. BTIG Research cut their price objective on shares of Marathon Digital from $50.00 to $16.00 and set a “buy” rating for the company in a report on Friday, June 3rd. Cowen increased their price objective on shares of Marathon Digital from $7.00 to $9.00 and gave the company a “market perform” rating in a report on Tuesday, August 23rd. Compass Point increased their price target on shares of Marathon Digital to $30.00 in a research note on Monday, August 15th. Jefferies Financial Group dropped their price target on shares of Marathon Digital from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. Finally, DA Davidson dropped their price target on shares of Marathon Digital from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $10.92 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.02 and a current ratio of 4.02. The stock has a market capitalization of $1.28 billion, a P/E ratio of -5.46 and a beta of 5.34. The company has a 50 day moving average price of $12.66 and a 200 day moving average price of $14.82. Marathon Digital Holdings, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $83.45.

Marathon Digital (NASDAQ:MARAGet Rating) last issued its quarterly earnings results on Monday, August 8th. The business services provider reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.49). Marathon Digital had a negative net margin of 114.11% and a positive return on equity of 6.10%. The business had revenue of $24.92 million during the quarter, compared to analysts’ expectations of $41.10 million. Equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.26 EPS for the current year.

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.

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Institutional Ownership by Quarter for Marathon Digital (NASDAQ:MARA)

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