SG Americas Securities LLC Has $689,000 Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

SG Americas Securities LLC lowered its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 71.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,454 shares of the business services provider's stock after selling 107,008 shares during the quarter. SG Americas Securities LLC's holdings in Marathon Digital were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. SRN Advisors LLC boosted its position in shares of Marathon Digital by 136.4% during the 2nd quarter. SRN Advisors LLC now owns 151,252 shares of the business services provider's stock valued at $3,002,000 after purchasing an additional 87,274 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Marathon Digital during the second quarter worth approximately $1,518,000. Cetera Investment Advisers boosted its holdings in Marathon Digital by 58.5% during the second quarter. Cetera Investment Advisers now owns 259,447 shares of the business services provider's stock worth $5,150,000 after buying an additional 95,774 shares in the last quarter. Second Line Capital LLC acquired a new position in Marathon Digital in the second quarter worth approximately $4,060,000. Finally, Creative Planning lifted its position in shares of Marathon Digital by 26.4% during the 2nd quarter. Creative Planning now owns 28,890 shares of the business services provider's stock valued at $573,000 after acquiring an additional 6,035 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Stock Up 6.0 %

MARA stock traded up $0.97 during midday trading on Monday, reaching $17.05. The company had a trading volume of 15,306,417 shares, compared to its average volume of 53,847,527. The company has a 50 day moving average of $16.11 and a two-hundred day moving average of $18.46. The company has a market capitalization of $4.82 billion, a P/E ratio of 7.92 and a beta of 5.50. Marathon Digital Holdings, Inc. has a 1 year low of $7.63 and a 1 year high of $34.09. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA - Get Free Report) 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 the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The firm had revenue of $145.14 million for the quarter, compared to analysts' expectations of $157.86 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Marathon Digital's revenue was up 77.5% on a year-over-year basis. On average, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages recently issued reports on MARA. JPMorgan Chase & Co. decreased their target price 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 reaffirmed a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Thursday. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research report on Thursday. They issued an "overweight" rating and a $21.00 target price on the stock. B. Riley upped their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 12th. Finally, Macquarie assumed coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They issued an "outperform" rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.79.

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.