Equitec Proprietary Markets LLC Buys 84,700 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Equitec Proprietary Markets LLC raised its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 526.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,800 shares of the business services provider’s stock after purchasing an additional 84,700 shares during the period. Marathon Digital accounts for 1.8% of Equitec Proprietary Markets LLC’s portfolio, making the stock its 11th largest position. Equitec Proprietary Markets LLC’s holdings in Marathon Digital were worth $2,368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Marathon Digital by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 474,377 shares of the business services provider’s stock valued at $13,259,000 after acquiring an additional 4,843 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Marathon Digital by 17.6% during the first quarter. HighTower Advisors LLC now owns 57,486 shares of the business services provider’s stock valued at $1,607,000 after acquiring an additional 8,588 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Marathon Digital by 6.1% during the first quarter. Private Advisor Group LLC now owns 17,709 shares of the business services provider’s stock valued at $495,000 after acquiring an additional 1,015 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Marathon Digital by 54.7% during the first quarter. MetLife Investment Management LLC now owns 52,851 shares of the business services provider’s stock valued at $1,477,000 after acquiring an additional 18,693 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Marathon Digital by 33.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,230 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 3,601 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

MARA stock traded down $1.49 during mid-day trading on Friday, hitting $16.11. The company had a trading volume of 39,158,474 shares, compared to its average volume of 46,107,396. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 19.18 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $22.21 and a 200 day moving average price of $17.25.

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

Analysts Set New Price Targets

MARA has been the topic of several research reports. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Wednesday, January 17th. Chardan Capital raised their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday. StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a research note on Friday, March 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.