Gladstone Institutional Advisory LLC Has $831,000 Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Gladstone Institutional Advisory LLC grew its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 24.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,391 shares of the business services provider’s stock after purchasing an additional 7,001 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Marathon Digital were worth $831,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc raised 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 buying an additional 1,467 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Marathon Digital in the 4th quarter worth $61,000. GAMMA Investing LLC purchased a new stake in shares of Marathon Digital in the fourth quarter valued at about $75,000. CWM LLC lifted its position in shares of Marathon Digital by 62.5% during the fourth 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 in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Marathon Digital by 16.8% during the third quarter. Kestra Advisory Services LLC now owns 12,888 shares of the business services provider’s stock worth $110,000 after purchasing an additional 1,858 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Chardan Capital dropped their target price on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. HC Wainwright decreased 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. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. Finally, StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and an average price target of $19.69.

Marathon Digital Stock Performance

Shares of MARA opened at $21.35 on Wednesday. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The stock’s 50-day simple moving average is $18.91 and its 200 day simple moving average is $19.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 9.93 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA) last announced 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 firm had revenue of $156.77 million during the quarter, compared to analysts’ expectations of $138.15 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. Research analysts forecast that Marathon Digital Holdings, Inc. will post -0.17 EPS for the current fiscal year.

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.