Avaii Wealth Management LLC Purchases New Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Avaii Wealth Management LLC purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,412 shares of the business services provider’s stock, valued at approximately $250,000.

A number of other institutional investors have also recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC boosted its position 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 valued at $29,000 after buying an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in Marathon Digital during the first quarter valued at about $90,000. DekaBank Deutsche Girozentrale purchased a new position in Marathon Digital in the first quarter valued at approximately $105,000. GAMMA Investing LLC raised its stake in Marathon Digital by 108.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 3,565 shares during the period. Finally, Tobam boosted its holdings in Marathon Digital by 173.0% in the 3rd quarter. Tobam now owns 7,701 shares of the business services provider’s stock worth $125,000 after buying an additional 4,880 shares during the period. Institutional investors own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,212 shares of company stock worth $742,948. Corporate insiders own 1.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MARA. Cantor Fitzgerald started coverage on Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.79.

Marathon Digital Stock Down 0.7 %

Shares of Marathon Digital stock traded down $0.13 on Thursday, reaching $17.95. The company’s stock had a trading volume of 21,385,448 shares, compared to its average volume of 53,908,242. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 8.16 and a beta of 5.50. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a 52 week low of $7.63 and a 52 week high of $34.09. The firm’s fifty day simple moving average is $16.15 and its two-hundred day simple moving average is $18.38.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The company had revenue of $145.14 million for 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) EPS. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

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.