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 that occurred on Monday, July 7th. The shares were sold at an average price of $17.42, for a total value of $17,420.00. Following the completion of the transaction, the director directly owned 174,859 shares of the company's stock, valued at $3,046,043.78. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Marathon Digital Price Performance
Marathon Digital stock traded up $0.14 during midday trading on Friday, reaching $19.14. 54,696,318 shares of the company were exchanged, compared to its average volume of 45,270,704. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -13.20 and a beta of 6.53. The firm's 50-day simple moving average is $15.55 and its 200-day simple moving average is $15.39. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79.
Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The company had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. On average, analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.
Institutional Trading of Marathon Digital
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Marathon Digital by 14.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock valued at $50,787,000 after purchasing an additional 372,094 shares during the period. Janney Montgomery Scott LLC boosted its stake in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after buying an additional 47,826 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after buying an additional 12,032 shares during the period. Alliancebernstein L.P. increased its stake in shares of Marathon Digital by 1.0% during the 4th 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 purchased a new position in shares of Marathon Digital during the 4th quarter worth about $195,000. Hedge funds and other institutional investors own 44.53% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on MARA shares. Barclays increased their price objective on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. 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. Compass Point reissued a "sell" rating and issued a $9.50 price objective (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Piper Sandler cut their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Rosenblatt Securities upped their price target on Marathon Digital from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.94.
Read Our Latest Research Report on Marathon Digital
About Marathon Digital
(
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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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