Douglas K. Mellinger Sells 1,000 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) Director Douglas K. Mellinger sold 1,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $17.42, for a total value of $17,420.00. Following the completion of the sale, the director owned 174,859 shares of the company's stock, valued at $3,046,043.78. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Marathon Digital Stock Up 5.4%

NASDAQ:MARA traded up $0.94 during mid-day trading on Wednesday, reaching $18.46. The stock had a trading volume of 42,536,861 shares, compared to its average volume of 45,158,083. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of -12.73 and a beta of 6.53. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The stock's 50 day simple moving average is $15.46 and its two-hundred day simple moving average is $15.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. During the same period in the previous year, the firm earned $1.26 EPS. Marathon Digital's revenue for the quarter was up 29.5% on a year-over-year basis. Equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MARA. Charles Schwab Investment Management Inc. lifted its position in Marathon Digital by 14.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock worth $50,787,000 after acquiring an additional 372,094 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Marathon Digital by 307.7% during the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after purchasing an additional 47,826 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Marathon Digital by 1,521.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after acquiring an additional 12,032 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Marathon Digital by 1.0% in the fourth quarter. Alliancebernstein L.P. now owns 355,218 shares of the business services provider's stock valued at $5,957,000 after acquiring an additional 3,393 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Marathon Digital in the fourth quarter worth $195,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MARA shares. HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Rosenblatt Securities increased their price objective on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised their target price on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, June 13th. Compass Point reaffirmed a "sell" rating and set a $9.50 target price (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Finally, Barclays raised their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $20.94.

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.

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