Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. cut its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 23.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,215 shares of the business services provider’s stock after selling 3,529 shares during the quarter. Meeder Asset Management Inc.’s holdings in Marathon Digital were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MARA. Vanguard Group Inc. grew its position in Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after buying an additional 441,455 shares during the period. Bank of New York Mellon Corp raised its holdings in Marathon Digital by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after purchasing an additional 1,327,969 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Marathon Digital by 29.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock worth $42,840,000 after purchasing an additional 410,146 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Marathon Digital by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Marathon Digital by 54.7% in the second quarter. Van ECK Associates Corp now owns 980,320 shares of the business services provider’s stock valued at $19,459,000 after buying an additional 346,637 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Up 2.0 %

MARA stock opened at $16.12 on Friday. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 7.50 and a beta of 5.51. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $18.34 and a two-hundred day moving average of $19.52.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. Marathon Digital’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the firm earned ($0.13) earnings per share. As a group, analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MARA has been the topic of a number of recent analyst reports. B. Riley increased their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $19.22.

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.