AlphaMark Advisors LLC Grows Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

AlphaMark Advisors LLC increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 10.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,058 shares of the business services provider’s stock after purchasing an additional 1,962 shares during the period. AlphaMark Advisors LLC’s holdings in Marathon Digital were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MARA. Beaird Harris Wealth Management LLC grew its stake in shares of Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after buying an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in Marathon Digital in the 1st quarter valued at about $90,000. DekaBank Deutsche Girozentrale purchased a new stake in Marathon Digital during the first quarter worth about $105,000. Tobam lifted its position in shares of Marathon Digital by 173.0% during the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after purchasing an additional 4,880 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Marathon Digital by 108.0% in the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 3,565 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,417 shares of company stock valued at $1,516,536. 1.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Marathon Digital Price Performance

MARA stock opened at $18.88 on Friday. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 8.78 and a beta of 5.50. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.63 and a fifty-two week high of $34.09. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $16.20 and a 200 day moving average price of $18.36.

Marathon Digital (NASDAQ:MARA) last issued its earnings results 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). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter in the previous year, the company posted ($0.13) EPS. The company’s quarterly revenue was up 77.5% on a year-over-year basis. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share 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.