SteelPeak Wealth LLC Acquires New Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SteelPeak Wealth LLC acquired a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the first quarter, Holdings Channel reports. The fund acquired 27,617 shares of the business services provider’s stock, valued at approximately $624,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Marathon Digital by 752.3% during the 4th quarter. Versant Capital Management Inc now owns 1,662 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 1,467 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Marathon Digital during the 4th quarter valued at $61,000. GAMMA Investing LLC bought a new stake in Marathon Digital during the 4th quarter valued at $75,000. CWM LLC raised its stake 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 worth $107,000 after buying an additional 1,754 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in shares of Marathon Digital in the 4th quarter worth $200,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Activity

In other news, Director Said Ouissal sold 10,217 shares of Marathon Digital stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $20.50, for a total transaction of $209,448.50. Following the transaction, the director now owns 60,046 shares in the company, valued at $1,230,943. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.11% of the stock is currently owned by corporate insiders.

Marathon Digital Trading Up 1.0 %

Shares of Marathon Digital stock traded up $0.19 on Friday, reaching $19.85. 49,591,032 shares of the company were exchanged, compared to its average volume of 44,208,096. The stock has a fifty day moving average price of $19.54 and a 200-day moving average price of $20.78. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 9.23 and a beta of 5.46. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $165.20 million for the quarter, compared to analyst estimates of $193.89 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. On average, analysts expect that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Marathon Digital in a research note on Friday, May 10th. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Thursday, June 20th. B. Riley dropped their price objective on Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $19.33.

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.