Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,943 shares of the business services provider's stock after selling 30,622 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Marathon Digital were worth $770,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MARA. Park Square Financial Group LLC purchased a new position in Marathon Digital during the 4th quarter worth $27,000. Sterling Capital Management LLC grew its stake in shares of Marathon Digital by 358.3% during 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 last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Marathon Digital during the fourth quarter valued at about $50,000. CIBC Private Wealth Group LLC increased its holdings in shares of Marathon Digital by 211.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after acquiring an additional 2,375 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Marathon Digital by 73.3% in the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after purchasing an additional 1,505 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MARA. Barclays boosted their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Piper Sandler dropped their price objective on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Compass Point reissued a "sell" rating and issued a $9.50 target price (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Marathon Digital has a consensus rating of "Hold" and an average target price of $20.94.

Insider Buying and Selling at Marathon Digital

In related news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 55,010 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $15.00, for a total transaction of $825,150.00. Following the sale, the chief executive officer owned 4,146,804 shares in the company, valued at approximately $62,202,060. This represents a 1.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,853 shares of company stock valued at $3,054,629. 0.80% of the stock is owned by company insiders.

Marathon Digital Stock Performance

NASDAQ:MARA traded up $1.30 during mid-day trading on Wednesday, hitting $17.00. The company's stock had a trading volume of 14,835,931 shares, compared to its average volume of 41,040,078. 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 current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -11.69 and a beta of 6.53. The business's fifty day moving average is $15.02 and its two-hundred day moving average is $15.54.

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

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.