Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 57.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,204 shares of the business services provider’s stock after acquiring an additional 10,627 shares during the period. Victory Capital Management Inc.’s holdings in Marathon Digital were worth $686,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MARA. Arizona State Retirement System increased its position in Marathon Digital by 3.0% in the third quarter. Arizona State Retirement System now owns 48,395 shares of the business services provider’s stock worth $411,000 after buying an additional 1,419 shares during the period. Versant Capital Management Inc lifted its position 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 valued at $39,000 after purchasing an additional 1,467 shares during the last quarter. CWM LLC grew its position in Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,754 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Marathon Digital by 16.8% in the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 1,858 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital during the fourth quarter valued at approximately $61,000. 44.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. HC Wainwright reduced their price objective on shares of Marathon Digital from $35.00 to $27.00 and set a “buy” rating for the company in a report on Friday, May 10th. B. Riley lowered their target price on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, Chardan Capital reduced their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.69.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $21.24 on Thursday. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $18.94 and a 200-day moving average of $19.19. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 9.88 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $156.77 million during the quarter, compared to analyst estimates of $138.15 million. Analysts forecast that Marathon Digital Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

About Marathon Digital

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.