Marathon Digital (NASDAQ:MARA) Shares Down 6.6% After Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares fell 6.6% during trading on Wednesday following insider selling activity. The company traded as low as $10.84 and last traded at $11.10. 50,506,945 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 46,451,625 shares. The stock had previously closed at $11.88.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $329,784.95. Following the sale, the chief executive officer directly owned 3,582,994 shares in the company, valued at approximately $42,960,098.06. This trade represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. The trade was a 10.92% decrease in their position. The disclosure for this sale is available in the SEC filing.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MARA. JPMorgan Chase & Co. cut their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Guggenheim initiated coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Finally, Rosenblatt Securities dropped their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.00.

Marathon Digital Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 9.07 and a beta of 6.40. The stock has a 50-day moving average price of $17.43 and a 200 day moving average price of $16.55.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The firm had revenue of $252.41 million for the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently modified their holdings of MARA. Hollencrest Capital Management boosted its stake in Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the period. Fifth Third Bancorp raised its holdings in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying an additional 683 shares during the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital during the second quarter worth about $31,000. Bessemer Group Inc. grew its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 2,001 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Company Profile

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.