State of New Jersey Common Pension Fund D Grows Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

State of New Jersey Common Pension Fund D lifted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 202,141 shares of the business services provider’s stock after purchasing an additional 16,663 shares during the period. State of New Jersey Common Pension Fund D owned about 0.09% of Marathon Digital worth $4,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MARA. Vanguard Group Inc. boosted its holdings in Marathon Digital by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after purchasing an additional 1,000,225 shares in the last quarter. Barclays PLC grew its stake in shares of Marathon Digital by 159.2% during the third quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after acquiring an additional 323,134 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Marathon Digital by 29.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after purchasing an additional 296,776 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Marathon Digital by 203.9% during the fourth quarter. SG Americas Securities LLC now owns 266,176 shares of the business services provider’s stock worth $6,252,000 after purchasing an additional 178,578 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Marathon Digital by 13.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 793,444 shares of the business services provider’s stock worth $18,638,000 after purchasing an additional 95,946 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on MARA. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Marathon Digital in a report on Tuesday, March 19th. Chardan Capital lifted their target price on shares of Marathon Digital from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their target price on shares of Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research report on Wednesday, April 10th. BTIG Research upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 17th. Finally, StockNews.com upgraded shares of Marathon Digital from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marathon Digital presently has an average rating of “Hold” and a consensus target price of $21.11.

Marathon Digital Trading Up 2.2 %

NASDAQ MARA traded up $0.42 during trading on Friday, hitting $19.43. The company had a trading volume of 39,307,489 shares, compared to its average volume of 72,521,117. The company’s fifty day moving average is $21.11 and its 200-day moving average is $17.74. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 22.30 and a beta of 5.36. The company has a current ratio of 30.50, a quick ratio of 30.51 and a debt-to-equity ratio of 0.20. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. The business had revenue of $156.77 million during the quarter, compared to the consensus estimate of $138.15 million. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

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.