Van ECK Associates Corp Has $14.31 Million Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Van ECK Associates Corp cut its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 633,683 shares of the business services provider’s stock after selling 26,100 shares during the quarter. Van ECK Associates Corp’s holdings in Marathon Digital were worth $14,308,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after acquiring an additional 4,950,392 shares during the last quarter. Hel Ved Capital Management Ltd bought a new position in shares of Marathon Digital in the fourth quarter valued at $11,531,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $42,840,000 after buying an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after acquiring an additional 296,776 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Marathon Digital by 203.9% in the 4th quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock worth $6,252,000 after acquiring an additional 178,578 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Performance

Shares of MARA stock traded down $0.97 on Friday, hitting $20.01. 32,490,502 shares of the stock were exchanged, compared to its average volume of 63,123,461. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The firm’s 50 day moving average is $19.78 and its two-hundred day moving average is $20.84. The firm has a market capitalization of $5.66 billion, a PE ratio of 9.13 and a beta of 5.56. 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 (NASDAQ:MARA) last posted its earnings results on Thursday, May 9th. The business services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The business had revenue of $165.20 million during the quarter, compared to analysts’ expectations of $193.89 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. Sell-side analysts expect that Marathon Digital Holdings, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Activity at Marathon Digital

In other news, Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was 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 directly owns 60,046 shares of the company’s stock, valued at $1,230,943. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.11% of the stock is owned by company insiders.

Analyst Ratings Changes

MARA has been the subject of several recent research reports. Chardan Capital decreased 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. JPMorgan Chase & Co. decreased their price target on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, June 4th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. B. Riley cut their price target on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Marathon Digital presently has an average rating of “Hold” and a consensus 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.