Marathon Patent Group, Inc. (MARA) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Marathon Patent Group, Inc. (NASDAQ:MARA) issued its earnings results on Monday. The business services provider reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.05, Bloomberg Earnings reports. Marathon Patent Group had a negative net margin of 81.91% and a negative return on equity of 1,139.06%. The business had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.50 million.
Marathon Patent Group (NASDAQ MARA) traded down 7.4884% during trading on Tuesday, reaching $0.2582. 652,497 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $0.32 and its 200 day moving average price is $0.70. The firm’s market cap is $6.00 million. Marathon Patent Group has a 52-week low of $0.13 and a 52-week high of $3.44.
Separately, Zacks Investment Research lowered shares of Marathon Patent Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st.
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In related news, major shareholder Jeff Feinberg sold 419,482 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $0.37, for a total transaction of $155,208.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.80% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Marathon Patent Group stock. Renaissance Technologies LLC boosted its stake in shares of Marathon Patent Group, Inc. (NASDAQ:MARA) by 263.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,000 shares of the business services provider’s stock after buying an additional 60,900 shares during the period. Renaissance Technologies LLC owned 0.56% of Marathon Patent Group worth $144,000 as of its most recent filing with the SEC. 5.67% of the stock is owned by institutional investors.
Marathon Patent Group Company Profile
Marathon Patent Group Inc (MARA) is engaged in acquiring patents and patent rights from owners or other ventures. The Company monetizes its portfolio of patents and patent rights by entering into license discussions. The Company owns around 378 United States and foreign patents, and patent rights across a range of technologies and markets.
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