Lake Hills Wealth Management LLC Purchases Shares of 10,221 Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Lake Hills Wealth Management LLC purchased a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,221 shares of the business services provider’s stock, valued at approximately $166,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC lifted its stake in shares of Marathon Digital by 121.1% in the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 695 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Marathon Digital in the 1st quarter valued at $90,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital during the 1st quarter valued at $105,000. GAMMA Investing LLC boosted its stake in Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares in the last quarter. Finally, Tobam grew its holdings in Marathon Digital by 173.0% in the third quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after purchasing an additional 4,880 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Stock Performance

Shares of NASDAQ MARA traded up $0.85 during midday trading on Friday, reaching $16.08. The company’s stock had a trading volume of 36,454,615 shares, compared to its average volume of 54,042,336. The stock has a market capitalization of $4.55 billion, a P/E ratio of 7.48 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The firm has a 50 day moving average price of $16.11 and a 200-day moving average price of $18.48. Marathon Digital Holdings, Inc. has a 12-month low of $7.55 and a 12-month high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) EPS. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Macquarie began coverage on Marathon Digital in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 target price for the company. Cantor Fitzgerald assumed coverage on Marathon Digital in a research report on Thursday. They set an “overweight” rating and a $21.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Thursday. B. Riley upped their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus target price of $19.79.

Insider Activity

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,212 shares of company stock valued at $726,178 in the last three months. Company insiders own 1.11% of the company’s stock.

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.