Key Points
- AE Wealth Management LLC has acquired a new stake in Marathon Digital Holdings, Inc.
- Several other large investors have also modified their holdings of the company
- Marathon Digital Holdings, Inc. recently announced its quarterly earnings results, which met analysts' consensus estimates
- Wall Street analyst have mixed opinions on the company
- The recent acquisition by AE Wealth Management LLC and the positive performance of other institutional investors in the company suggest that Marathon Digital could be a good investment opportunity for those looking to gain exposure to the business services sector.
AE Wealth Management LLC has recently acquired a new stake in Marathon Digital Holdings, Inc., according to its most recent Form 13F filing with the Securities & Exchange Commission.
The institutional investor acquired 31,465 shares of the business services provider's stock, valued at approximately $337,000. This is a positive sign for the company, as it indicates that a reputable investor has confidence in the future performance of Marathon Digital.
Several other large investors have also modified their holdings of the company
Insiders Movements
Several other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Marathon Digital by 8.8% in the second quarter. Renaissance Technologies LLC boosted its holdings in shares of Marathon Digital by 297.0% in the second quarter.
Allianz Asset Management GmbH boosted its holdings in shares of Marathon Digital by 138.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Marathon Digital by 38.5% during the second quarter. Finally, Northern Trust Corp raised its stake in shares of Marathon Digital by 4.1% during the second quarter.
Marathon Digital (NASDAQ:MARA)recently announced its quarterly earnings results on Tuesday, November 8th. The business services provider reported ($0.36) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.36).
Marathon Digital had a negative return on equity of 12.44% and a negative net margin of 179.46%. The business had revenue of $12.69 million during the quarter, compared to analysts' expectations of $35.43 million. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.28 earnings per share for the current fiscal year.
Spread The Word
Wall Street analyst have mixed opinions on Marathon Digital. B. Riley cut their price target on Marathon Digital from $10.00 to $8.00 and set a "neutral" rating for the company. BTIG Research cut Marathon Digital from a "buy" rating to a "neutral" rating.
Compass Point cut their price target on Marathon Digital from $30.00 to $21.00 and set a "buy" rating for the company. DA Davidson cut their price target on Marathon Digital from $18.00 to $12.00 and set a "buy" rating for the company. Finally, Jefferies Financial Group cut Marathon Digital from a "buy" rating to a "hold" rating.
Despite mixed opinions from analysts, the recent acquisition by AE Wealth Management LLC and the positive performance of other institutional investors in the company suggest that Marathon Digital could be a good investment opportunity for those looking to gain exposure to the business services sector.
Institutions Holding MARA
- # of Institutions 365
- Shares Held 107M
- Call Options Held 17.6M
- Put Options Held 26.6M
About MARATHON DIGITAL HOLDINGS, INC.
- Ticker MARA
- Exchange NASDAQ
- Sector Financial Services
- Industry Capital Markets
- Shares Outstandng 116,810,000
- Market Cap $2.64B
- Description
- 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. The company was for...