Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 67.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,695 shares of the business services provider’s stock after purchasing an additional 23,242 shares during the quarter. Victory Capital Management Inc.’s holdings in Marathon Digital were worth $1,145,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Impact Partnership Wealth LLC raised its stake in shares of Marathon Digital by 686.5% in the 2nd quarter. Impact Partnership Wealth LLC now owns 18,372 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 16,036 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Marathon Digital by 13.8% in the 2nd quarter. Foundations Investment Advisors LLC now owns 65,602 shares of the business services provider’s stock worth $1,302,000 after purchasing an additional 7,942 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in Marathon Digital in the 2nd quarter worth about $1,314,000. Rhumbline Advisers grew its position in Marathon Digital by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares during the last quarter. Finally, Aptus Capital Advisors LLC bought a new position in shares of Marathon Digital in the second quarter valued at approximately $4,081,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Marathon Digital Trading Up 0.7 %

Shares of NASDAQ MARA opened at $15.45 on Friday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 7.19 and a beta of 5.51. The business has a 50 day simple moving average of $17.98 and a 200 day simple moving average of $19.07. Marathon Digital Holdings, Inc. has a 52 week low of $7.16 and a 52 week 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.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) EPS. On average, research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 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.