Equitec Proprietary Markets LLC acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,100 shares of the business services provider’s stock, valued at approximately $140,000. Marathon Digital comprises approximately 0.0% of Equitec Proprietary Markets LLC’s portfolio, making the stock its 26th largest position.
Several other hedge funds and other institutional investors have also modified their holdings of MARA. Advisor Group Holdings Inc. lifted its position in Marathon Digital by 68.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,353 shares of the business services provider’s stock worth $25,000 after purchasing an additional 2,984 shares during the period. Macquarie Group Ltd. lifted its position in Marathon Digital by 96.8% in the second quarter. Macquarie Group Ltd. now owns 5,369 shares of the business services provider’s stock worth $29,000 after purchasing an additional 2,641 shares during the period. Smith Anglin Financial LLC bought a new position in Marathon Digital in the fourth quarter worth $34,000. Cetera Advisors LLC bought a new position in Marathon Digital in the fourth quarter worth $36,000. Finally, Quantbot Technologies LP bought a new position in Marathon Digital in the first quarter worth $37,000. Institutional investors and hedge funds own 39.02% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. StockNews.com raised Marathon Digital to a “sell” rating in a research report on Wednesday, August 16th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Marathon Digital in a research note on Wednesday, September 6th. Compass Point reduced their target price on shares of Marathon Digital from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. B. Riley boosted their target price on shares of Marathon Digital from $8.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. Finally, Chardan Capital downgraded shares of Marathon Digital from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus price target of $13.67.
Insider Buying and Selling
In related news, Director Said Ouissal sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $10.95, for a total transaction of $164,250.00. Following the transaction, the director now owns 15,217 shares in the company, valued at approximately $166,626.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Marathon Digital news, Director Ashu Swami sold 11,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $13.80, for a total transaction of $151,800.00. Following the completion of the sale, the director now directly owns 7,491 shares of the company’s stock, valued at approximately $103,375.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Said Ouissal sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $10.95, for a total value of $164,250.00. Following the sale, the director now directly owns 15,217 shares of the company’s stock, valued at $166,626.15. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.
Marathon Digital Stock Performance
Shares of NASDAQ MARA opened at $9.79 on Tuesday. The firm’s 50-day simple moving average is $14.01 and its 200 day simple moving average is $11.25. The company has a current ratio of 14.91, a quick ratio of 14.91 and a debt-to-equity ratio of 1.24. Marathon Digital Holdings, Inc. has a 12-month low of $3.11 and a 12-month high of $19.88.
Marathon Digital (NASDAQ:MARA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10). The company had revenue of $81.76 million for the quarter, compared to analyst estimates of $83.20 million. Marathon Digital had a negative return on equity of 15.80% and a negative net margin of 284.21%. Research analysts predict that Marathon Digital Holdings, Inc. will post -0.2 EPS for the current fiscal year.
Marathon Digital Profile
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the blockchain ecosystem and the generation of digital assets 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.
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