Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stake Lessened by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL lessened its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 25.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,077 shares of the business services provider’s stock after selling 3,825 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Marathon Digital were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Marathon Digital by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock valued at $30,429,000 after purchasing an additional 296,776 shares in the last quarter. Van ECK Associates Corp increased its stake in Marathon Digital by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 659,783 shares of the business services provider’s stock valued at $15,499,000 after buying an additional 119,470 shares during the period. Finally, Hel Ved Capital Management Ltd purchased a new stake in Marathon Digital in the 4th quarter worth approximately $11,531,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA stock traded up $1.08 during mid-day trading on Friday, reaching $24.73. The stock had a trading volume of 61,002,934 shares, compared to its average volume of 46,476,204. The firm has a market cap of $6.99 billion, a PE ratio of 11.50 and a beta of 5.56. The company has a quick ratio of 23.07, a current ratio of 23.07 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The firm’s 50 day simple moving average is $20.59 and its 200 day simple moving average is $20.60.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The business had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. On average, analysts forecast that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total value of $209,448.50. Following the sale, the director now owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. B. Riley upped their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research note on Tuesday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Chardan Capital cut their target price on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average target price of $19.61.

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.