ClariVest Asset Management LLC Raises Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

ClariVest Asset Management LLC boosted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 156.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,241 shares of the business services provider’s stock after buying an additional 51,380 shares during the quarter. ClariVest Asset Management LLC’s holdings in Marathon Digital were worth $1,902,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. VitalStone Financial LLC increased its holdings in Marathon Digital by 1,223.1% in the 1st quarter. VitalStone Financial LLC now owns 41,229 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 38,113 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Marathon Digital by 34.3% in the first quarter. Jennison Associates LLC now owns 28,514 shares of the business services provider’s stock valued at $644,000 after buying an additional 7,280 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Marathon Digital in the 1st quarter valued at $1,205,000. FinTrust Capital Advisors LLC acquired a new position in Marathon Digital during the 1st quarter worth about $90,000. Finally, Private Advisor Group LLC lifted its stake in Marathon Digital by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 40,203 shares of the business services provider’s stock worth $908,000 after acquiring an additional 3,421 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MARA. StockNews.com cut shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. B. Riley boosted 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. 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. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.61.

Marathon Digital Price Performance

Shares of NASDAQ:MARA traded up $1.75 during midday trading on Friday, hitting $20.77. 53,885,669 shares of the stock were exchanged, compared to its average volume of 38,521,800. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.87 billion, a P/E ratio of 9.66 and a beta of 5.56. The company has a 50 day moving average price of $20.04 and a 200-day moving average price of $20.62. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.06) 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 company had revenue of $165.20 million for the quarter, compared to analyst estimates of $193.89 million. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Said Ouissal sold 10,217 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.11% of the stock is owned by company insiders.

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.