Marathon Digital Holdings, Inc. (NASDAQ:MARA) Position Boosted by Brookstone Capital Management

Brookstone Capital Management boosted its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 17.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,166 shares of the business services provider’s stock after buying an additional 14,879 shares during the quarter. Brookstone Capital Management’s holdings in Marathon Digital were worth $1,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC grew its position 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 worth $29,000 after acquiring an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Marathon Digital during the fourth quarter valued at $61,000. GAMMA Investing LLC acquired a new stake in shares of Marathon Digital during the fourth quarter worth $75,000. FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital in the 1st quarter worth about $90,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Marathon Digital in the 1st quarter valued at about $105,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Chardan Capital cut their target price on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. B. Riley raised their target price on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. StockNews.com lowered shares of Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Marathon Digital in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.55.

Insiders Place Their Bets

In other news, Director Said Ouissal sold 10,217 shares of the business’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 sale, the director now owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.11% of the stock is currently owned by insiders.

Marathon Digital Stock Performance

MARA stock opened at $16.24 on Friday. The company has a 50-day simple moving average of $19.82 and a 200 day simple moving average of $20.35. The company has a market capitalization of $4.59 billion, a P/E ratio of 7.55 and a beta of 5.56. The company has a quick ratio of 23.07, a current 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 issued its quarterly earnings results 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). Marathon Digital had a negative return on equity of 5.86% and a net margin of 62.57%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same period in the prior year, the company posted ($0.13) earnings per share. The company’s revenue was up 77.5% on a year-over-year basis. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.11 earnings per share for the current fiscal year.

Marathon Digital Company 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.