Verition Fund Management LLC Takes $152,000 Position in Marathon Patent Group, Inc. (NASDAQ:MARA)

Verition Fund Management LLC purchased a new stake in shares of Marathon Patent Group, Inc. (NASDAQ:MARA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 14,584 shares of the business services provider’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MARA. International Assets Investment Management LLC bought a new stake in shares of Marathon Patent Group during the fourth quarter valued at approximately $25,000. SG Americas Securities LLC bought a new stake in shares of Marathon Patent Group during the fourth quarter valued at approximately $104,000. F3Logic LLC bought a new stake in shares of Marathon Patent Group during the fourth quarter valued at approximately $119,000. One68 Global Capital LLC acquired a new position in shares of Marathon Patent Group during the fourth quarter valued at approximately $146,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Marathon Patent Group during the fourth quarter valued at approximately $159,000. 3.99% of the stock is currently owned by institutional investors.

In other Marathon Patent Group news, CFO Simeon Salzman sold 15,000 shares of Marathon Patent Group stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $53.38, for a total value of $800,700.00. Following the transaction, the chief financial officer now owns 89,366 shares in the company, valued at $4,770,357.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Merrick D. Okamoto sold 700,000 shares of Marathon Patent Group stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $48.65, for a total transaction of $34,055,000.00. Following the completion of the transaction, the chief executive officer now owns 1,458,458 shares in the company, valued at approximately $70,953,981.70. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

NASDAQ MARA opened at $46.26 on Thursday. Marathon Patent Group, Inc. has a 12 month low of $0.38 and a 12 month high of $57.75. The firm has a market capitalization of $4.57 billion, a PE ratio of -98.43 and a beta of 4.33. The company’s 50 day simple moving average is $39.33 and its 200 day simple moving average is $17.47.

Marathon Patent Group (NASDAQ:MARA) last posted its quarterly earnings results on Monday, March 15th. The business services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.07). Marathon Patent Group had a negative return on equity of 48.25% and a negative net margin of 319.69%. Analysts forecast that Marathon Patent Group, Inc. will post -0.19 EPS for the current year.

MARA has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Marathon Patent Group from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, March 9th. HC Wainwright raised their price objective on shares of Marathon Patent Group from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, March 17th.

About Marathon Patent Group

Marathon Patent Group, Inc operates as a digital asset technology company that mines cryptocurrencies. The company was formerly known as American Strategic Minerals Corporation and changed its name to Marathon Patent Group, Inc in February 2013. Marathon Patent Group, Inc was founded in 2010 and is headquartered in Las Vegas, Nevada.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Marathon Patent Group (NASDAQ:MARA)

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