Bluefin Capital Management LLC Sells 24,574 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Bluefin Capital Management LLC lowered its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 75.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,970 shares of the business services provider’s stock after selling 24,574 shares during the quarter. Bluefin Capital Management LLC’s holdings in Marathon Digital were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MARA. Renaissance Technologies LLC purchased a new stake in Marathon Digital during the first quarter valued at about $75,297,000. Toroso Investments LLC purchased a new stake in Marathon Digital during the fourth quarter valued at about $13,274,000. Morgan Stanley lifted its holdings in Marathon Digital by 720.9% during the first quarter. Morgan Stanley now owns 984,655 shares of the business services provider’s stock valued at $47,283,000 after purchasing an additional 864,709 shares during the last quarter. BlackRock Inc. lifted its holdings in Marathon Digital by 267,807.0% during the fourth quarter. BlackRock Inc. now owns 809,079 shares of the business services provider’s stock valued at $8,446,000 after purchasing an additional 808,777 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Marathon Digital by 106.9% during the first quarter. Geode Capital Management LLC now owns 740,017 shares of the business services provider’s stock valued at $35,535,000 after purchasing an additional 382,367 shares during the last quarter. 24.69% of the stock is currently owned by institutional investors and hedge funds.

MARA traded down $0.94 on Thursday, reaching $24.12. The company had a trading volume of 153,347 shares, compared to its average volume of 7,189,999. The business has a 50 day moving average of $26.18. Marathon Digital Holdings, Inc. has a 52-week low of $0.91 and a 52-week high of $57.75.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Monday, May 10th. The business services provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). The company had revenue of $9.15 million during the quarter, compared to analysts’ expectations of $11.30 million. Marathon Digital had a net margin of 572.60% and a negative return on equity of 10.66%. As a group, research analysts anticipate that Marathon Digital Holdings, Inc. will post 1.21 EPS for the current year.

A number of brokerages have recently issued reports on MARA. Zacks Investment Research downgraded shares of Marathon Digital from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, May 18th. Compass Point began coverage on shares of Marathon Digital in a report on Monday, June 21st. They issued a “buy” rating and a $40.00 price target on the stock. Finally, B. Riley increased their price target on shares of Marathon Digital from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 1st.

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. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021.

Further Reading: Price-Sales Ratio

Institutional Ownership by Quarter for Marathon Digital (NASDAQ:MARA)

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