New York State Common Retirement Fund Boosts Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

New York State Common Retirement Fund boosted its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,887 shares of the business services provider’s stock after buying an additional 18,890 shares during the quarter. New York State Common Retirement Fund’s holdings in Marathon Digital were worth $2,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MARA. Jennison Associates LLC acquired a new position in shares of Marathon Digital during the fourth quarter worth about $499,000. Handelsbanken Fonder AB grew its holdings in Marathon Digital by 38.9% during the 4th quarter. Handelsbanken Fonder AB now owns 28,200 shares of the business services provider’s stock worth $662,000 after acquiring an additional 7,900 shares in the last quarter. CWM LLC increased its position in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 1,754 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of Marathon Digital during the 4th quarter worth $793,000. Finally, Xponance Inc. grew its stake in shares of Marathon Digital by 29.2% during the fourth quarter. Xponance Inc. now owns 13,031 shares of the business services provider’s stock worth $306,000 after purchasing an additional 2,946 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Down 0.6 %

Shares of NASDAQ:MARA opened at $20.09 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. The stock has a market cap of $5.48 billion, a P/E ratio of 23.92 and a beta of 5.38. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The firm has a fifty day moving average price of $19.60 and a 200 day moving average price of $18.46.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of analyst reports. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, January 17th. StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. Chardan Capital reduced their price objective on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.83.

Marathon Digital 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.