Marathon Digital (NASDAQ:MARA) Director Sells $20,710.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas Mellinger sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $20.71, for a total transaction of $20,710.00. Following the sale, the director owned 171,859 shares of the company’s stock, valued at approximately $3,559,199.89. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Marathon Digital Trading Down 7.8%

Shares of MARA stock opened at $18.63 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The firm has a fifty day moving average price of $16.78 and a 200-day moving average price of $15.67. 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 company has a market cap of $6.90 billion, a price-to-earnings ratio of 16.78 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the previous year, the firm posted ($0.72) EPS. The company’s revenue for the quarter was up 64.0% compared to the same quarter last year. As a group, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the 2nd quarter worth about $31,000. IFP Advisors Inc grew its stake 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 worth $40,000 after acquiring an additional 2,001 shares in the last quarter. Osaic Holdings Inc. grew its stake in Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Marathon Digital by 303.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock worth $75,000 after acquiring an additional 3,771 shares in the last quarter. Institutional investors own 44.53% of the company’s stock.

Analysts Set New Price Targets

MARA has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Marathon Digital in a research report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Marathon Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

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.