Pasadena Private Wealth LLC Increases Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Pasadena Private Wealth LLC increased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 25.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,609 shares of the business services provider’s stock after purchasing an additional 2,537 shares during the period. Pasadena Private Wealth LLC’s holdings in Marathon Digital were worth $285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Marathon Digital by 5.7% during the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after acquiring an additional 1,000,225 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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 valued at $42,840,000 after acquiring 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 acquiring an additional 296,776 shares during the period. Vima LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $949,000. Finally, Virtu Financial LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $1,629,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MARA shares. StockNews.com cut Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley reduced their price objective on 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, JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.33.

Insider Activity at Marathon Digital

In related news, Director Said Ouissal sold 10,217 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the sale, the director now directly owns 60,046 shares of the company’s stock, valued at $1,230,943. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.11% of the stock is owned by corporate insiders.

Marathon Digital Stock Up 0.5 %

Shares of NASDAQ:MARA traded up $0.09 during trading on Friday, hitting $19.75. The company’s stock had a trading volume of 9,151,423 shares, compared to its average volume of 63,324,211. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $34.09. The stock’s 50-day moving average price is $19.48 and its two-hundred day moving average price is $20.67. The company has a market capitalization of $5.59 billion, a PE ratio of 9.14 and a beta of 5.46.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The business had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current 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.