Virtu Financial LLC Sells 10,659 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Virtu Financial LLC decreased its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,702 shares of the business services provider’s stock after selling 10,659 shares during the quarter. Virtu Financial LLC’s holdings in Marathon Digital were worth $1,325,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC raised its holdings in 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 worth $29,000 after purchasing an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Marathon Digital in the 4th quarter worth approximately $61,000. GAMMA Investing LLC purchased a new position in Marathon Digital during the 4th quarter worth approximately $75,000. FinTrust Capital Advisors LLC purchased a new position in Marathon Digital during the 1st quarter worth approximately $90,000. Finally, CWM LLC boosted its holdings in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 1,754 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Chardan Capital cut their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. StockNews.com lowered Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, B. Riley upped their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.61.

Insider Activity at Marathon Digital

In related news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total value of $209,448.50. Following the completion of the transaction, the director now owns 60,046 shares in the company, valued at $1,230,943. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.11% of the stock is currently owned by company insiders.

Marathon Digital Trading Down 5.2 %

Shares of Marathon Digital stock traded down $0.95 on Friday, reaching $17.19. The company had a trading volume of 38,719,724 shares, compared to its average volume of 60,973,254. The company has a debt-to-equity ratio of 0.13, a quick ratio of 23.07 and a current ratio of 23.07. The firm has a market cap of $4.86 billion, a PE ratio of 8.00 and a beta of 5.56. The firm’s 50 day moving average price is $20.72 and its two-hundred day moving average price is $20.41. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, May 9th. The business services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. The firm had revenue of $165.20 million for the quarter, compared to analyst estimates of $193.89 million. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.11 earnings per share for the current fiscal year.

About Marathon Digital

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.