Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 23.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,215 shares of the business services provider’s stock after selling 3,529 shares during the quarter. Meeder Asset Management Inc.’s holdings in Marathon Digital were worth $223,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in shares of Marathon Digital during the fourth quarter worth $930,000. Victory Capital Management Inc. increased its stake in Marathon Digital by 57.2% during the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock worth $686,000 after purchasing an additional 10,627 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of Marathon Digital during the fourth quarter worth about $296,000. Amalgamated Bank boosted its stake in shares of Marathon Digital by 16.6% in the fourth quarter. Amalgamated Bank now owns 30,512 shares of the business services provider’s stock valued at $717,000 after purchasing an additional 4,337 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Marathon Digital in the fourth quarter valued at approximately $228,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA stock opened at $16.12 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 7.50 and a beta of 5.51. The stock’s 50-day moving average is $18.34 and its two-hundred day moving average is $19.52.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MARA shares. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley increased their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. decreased their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $19.22.

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.