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

Key Points

• Director Douglas K. Mellinger sold 1,000 shares of Marathon Digital Holdings, Inc. at an average price of $16.21, resulting in a total transaction value of $16,210.00.
• Following the sale, Mellinger retained 173,859 shares, which are currently valued at approximately $2.82 million, representing a 0.57% decrease in ownership.
• The stock price of Marathon Digital has seen a 3.6% decline, trading at $15.38 recently, while the company reported revenue growth of 64.0% year-over-year in its latest earnings results.

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 Thursday, August 7th. The stock was sold at an average price of $16.21, for a total transaction of $16,210.00. Following the completion of the transaction, the director owned 173,859 shares in the company, valued at approximately $2,818,254.39. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Marathon Digital Trading Down 3.6%

Shares of Marathon Digital stock traded down $0.57 on Friday, hitting $15.38. The stock had a trading volume of 25,565,741 shares, compared to its average volume of 47,758,708. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 13.86 and a beta of 6.24. The stock's 50-day simple moving average is $16.55 and its two-hundred day simple moving average is $15.24.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $212.25 million. During the same quarter last year, the business earned ($0.72) earnings per share. The business's revenue was up 64.0% on a year-over-year basis. As a group, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new stake in Marathon Digital in the fourth quarter worth $27,000. Sterling Capital Management LLC lifted its stake in Marathon Digital by 358.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,426 shares during the period. Fifth Third Bancorp lifted its stake in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after acquiring an additional 683 shares during the period. IFP Advisors Inc lifted its stake in Marathon Digital by 375.4% in the second 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 during the period. Finally, NewEdge Advisors LLC lifted its stake in Marathon Digital by 28.9% in the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock worth $78,000 after acquiring an additional 1,040 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research analyst reports. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. Cantor Fitzgerald increased their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. Finally, Barclays increased their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

About Marathon Digital

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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