AlphaMark Advisors LLC Increases Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

AlphaMark Advisors LLC lifted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,058 shares of the business services provider’s stock after purchasing an additional 1,962 shares during the quarter. AlphaMark Advisors LLC’s holdings in Marathon Digital were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers raised its position in Marathon Digital by 126.5% during the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after buying an additional 439,309 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Marathon Digital during the second quarter worth about $4,498,000. Public Sector Pension Investment Board acquired a new stake in Marathon Digital in the second quarter valued at about $11,920,000. Second Line Capital LLC purchased a new stake in Marathon Digital in the 2nd quarter valued at approximately $4,060,000. Finally, American International Group Inc. increased its position in Marathon Digital by 4.3% during the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 4,593 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,417 shares of company stock valued at $1,516,536. Company insiders own 1.11% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ MARA opened at $18.88 on Friday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $34.09. The business has a fifty day moving average of $16.20 and a 200-day moving average of $18.36. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 8.78 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same period in the previous year, the firm posted ($0.13) EPS. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Macquarie initiated coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, October 10th. B. Riley raised their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, Cantor Fitzgerald started coverage on shares of Marathon Digital in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.79.

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.