Ninepoint Partners LP Buys Shares of 33,780 Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Ninepoint Partners LP bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,780 shares of the business services provider’s stock, valued at approximately $793,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Marathon Digital by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock worth $157,447,000 after acquiring an additional 1,000,225 shares during the period. BlackRock Inc. lifted its position in shares of Marathon Digital by 6.0% in the 3rd quarter. BlackRock Inc. now owns 7,785,906 shares of the business services provider’s stock worth $83,387,000 after acquiring an additional 439,850 shares during the period. Morgan Stanley lifted its position in shares of Marathon Digital by 208.7% in the 3rd quarter. Morgan Stanley now owns 6,999,580 shares of the business services provider’s stock worth $59,496,000 after acquiring an additional 4,731,807 shares during the period. State Street Corp lifted its position in shares of Marathon Digital by 11.2% in the 3rd quarter. State Street Corp now owns 2,682,614 shares of the business services provider’s stock worth $28,731,000 after acquiring an additional 269,351 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Marathon Digital by 9.3% in the 1st quarter. Geode Capital Management LLC now owns 2,625,114 shares of the business services provider’s stock worth $22,896,000 after acquiring an additional 224,445 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of research reports. Chardan Capital raised their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, January 17th. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. Finally, HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Marathon Digital in a research report on Tuesday, March 19th. Two equities research analysts have 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, Marathon Digital currently has an average rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Price Performance

MARA traded up $1.52 during trading on Friday, hitting $16.55. The company’s stock had a trading volume of 32,445,847 shares, compared to its average volume of 73,756,078. The firm’s 50 day moving average price is $22.07 and its two-hundred day moving average price is $17.39. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 18.92 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20.

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

Marathon Digital Company 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.