Charles Schwab Investment Management Inc. Increases Stock Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Charles Schwab Investment Management Inc. grew its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 29.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,823,739 shares of the business services provider's stock after buying an additional 410,146 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.82% of Marathon Digital worth $42,840,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Private Advisor Group LLC lifted its stake in Marathon Digital by 64.1% in the fourth quarter. Private Advisor Group LLC now owns 36,782 shares of the business services provider's stock valued at $864,000 after buying an additional 14,361 shares in the last quarter. Spire Wealth Management boosted its stake in Marathon Digital by 3,987.0% in the 4th quarter. Spire Wealth Management now owns 12,874 shares of the business services provider's stock worth $302,000 after purchasing an additional 12,559 shares during the period. M&T Bank Corp bought a new position in Marathon Digital during the 4th quarter worth about $228,000. Amalgamated Bank raised its stake in shares of Marathon Digital by 16.6% in the 4th quarter. Amalgamated Bank now owns 30,512 shares of the business services provider's stock valued at $717,000 after purchasing an additional 4,337 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in shares of Marathon Digital in the fourth quarter valued at about $296,000. Institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Performance

Shares of MARA traded up $2.87 during mid-day trading on Monday, reaching $22.32. The company's stock had a trading volume of 65,774,709 shares, compared to its average volume of 68,539,516. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The business has a 50-day simple moving average of $18.89 and a two-hundred day simple moving average of $19.09. The stock has a market cap of $6.09 billion, a P/E ratio of 10.38 and a beta of 5.38.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 3.80% and a net margin of 106.46%. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Marathon Digital from a "hold" rating to a "sell" rating in a research report on Thursday, May 9th. B. Riley lowered their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, May 10th. Needham & Company LLC restated a "hold" rating on shares of Marathon Digital in a report on Friday, May 10th. HC Wainwright lowered their price target on shares of Marathon Digital from $35.00 to $27.00 and set a "buy" rating on the stock in a research note on Friday, May 10th. Finally, Chardan Capital decreased their price objective on Marathon Digital from $30.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.69.

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.