International Assets Investment Management LLC Makes New Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

International Assets Investment Management LLC bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 39,604 shares of the business services provider’s stock, valued at approximately $930,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in shares of Marathon Digital by 280.6% during the third quarter. Vontobel Holding Ltd. now owns 41,546 shares of the business services provider’s stock worth $353,000 after purchasing an additional 30,631 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Marathon Digital by 36.8% during the 3rd quarter. AE Wealth Management LLC now owns 54,037 shares of the business services provider’s stock worth $459,000 after buying an additional 14,522 shares during the last quarter. IFP Advisors Inc grew its position in shares of Marathon Digital by 48.2% in the 3rd quarter. IFP Advisors Inc now owns 9,272 shares of the business services provider’s stock worth $79,000 after acquiring an additional 3,017 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Marathon Digital by 105.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after acquiring an additional 358,220 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its position in shares of Marathon Digital by 2.7% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 83,661 shares of the business services provider’s stock valued at $711,000 after acquiring an additional 2,181 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Up 10.8 %

MARA opened at $19.44 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 30.50 and a quick ratio of 30.51. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The stock’s 50 day moving average price is $21.47 and its 200 day moving average price is $17.72. The stock has a market cap of $5.20 billion, a P/E ratio of 23.14 and a beta of 5.37.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a net margin of 48.93% and a negative return on equity of 4.61%. As a group, research analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MARA has been the subject of several recent research reports. Chardan Capital boosted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. HC Wainwright reiterated a “buy” rating and set a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. JPMorgan Chase & Co. lifted their target price on Marathon Digital from $16.00 to $16.50 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. BTIG Research upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 17th. Finally, StockNews.com upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.11.

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.