Virginia Retirement Systems ET AL Makes New Investment in Marathon Digital Holdings, Inc. (NASDAQ: $MARA )
Posted by Logan Wallace on Apr 22nd, 2022
Marathon Digital logoVirginia Retirement Systems ET AL acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,600 shares of the business services provider’s stock, valued at approximately $315,000.
A number of other hedge funds and other institutional investors have also modified their holdings of MARA. Sterling Investment Advisors Ltd. raised its holdings in Marathon Digital by 93.3% in the third quarter. Sterling Investment Advisors Ltd. now owns 802 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 387 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in shares of Marathon Digital in the 3rd quarter worth about $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Marathon Digital in the 3rd quarter valued at about $32,000. Wells Fargo & Company MN raised its stake in shares of Marathon Digital by 56.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 471 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Marathon Digital by 3,851.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,067 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 1,040 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.
Shares of MARA stock opened at $19.32 on Friday. Marathon Digital Holdings, Inc. has a 52 week low of $18.32 and a 52 week high of $83.45. The company has a quick ratio of 49.89, a current ratio of 49.89 and a debt-to-equity ratio of 1.07. The business has a 50 day moving average of $24.98 and a two-hundred day moving average of $35.58. The company has a market cap of $1.99 billion, a P/E ratio of -56.82 and a beta of 4.60.
Marathon Digital (NASDAQ:MARA – Get Rating) last issued its earnings results on Tuesday, March 1st. The business services provider reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Marathon Digital had a positive return on equity of 18.77% and a negative net margin of 24.04%. The firm had revenue of $60.28 million for the quarter, compared to analyst estimates of $60.23 million. Analysts expect that Marathon Digital Holdings, Inc. will post 2.69 EPS for the current fiscal year.
MARA has been the topic of a number of recent analyst reports. B. Riley cut their target price on shares of Marathon Digital from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, April 5th. Zacks Investment Research upgraded Marathon Digital from a “sell” rating to a “hold” rating in a research report on Friday, April 8th. Compass Point lifted their target price on Marathon Digital from $48.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, March 8th. BTIG Research initiated coverage on shares of Marathon Digital in a report on Tuesday, January 18th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Marathon Digital in a report on Friday, January 28th. They set a “buy” rating and a $51.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $58.83.
About Marathon Digital
Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in United States. As of December 31, 2021, it had approximately 8,115 bitcoins, which included the 4,794 bitcoins held in the investment fund.
