Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stake Cut by AQR Capital Management LLC

AQR Capital Management LLC reduced its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 50.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,371 shares of the business services provider’s stock after selling 29,922 shares during the period. AQR Capital Management LLC’s holdings in Marathon Digital were worth $583,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC raised its stake in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of Marathon Digital during the 1st quarter worth about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Marathon Digital during the 1st quarter worth about $105,000. GAMMA Investing LLC raised its stake in shares of Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after purchasing an additional 3,565 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of Marathon Digital by 1,555.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock worth $164,000 after purchasing an additional 7,778 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,212 shares of company stock worth $726,178 over the last 90 days. 1.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MARA shares. JPMorgan Chase & Co. cut their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, October 10th. Cantor Fitzgerald began coverage on Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective on the stock. B. Riley raised their price objective on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, Macquarie began coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.79.

Marathon Digital Trading Up 5.6 %

Shares of MARA opened at $16.98 on Tuesday. The stock has a fifty day moving average price of $16.12 and a two-hundred day moving average price of $18.42. 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 Holdings, Inc. has a 52-week low of $7.63 and a 52-week high of $34.09. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 7.90 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.13) EPS. Analysts predict that Marathon Digital Holdings, Inc. will post -1.06 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.