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

Oppenheimer & Co. Inc. lowered its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 31.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 66,943 shares of the business services provider's stock after selling 30,622 shares during the period. Oppenheimer & Co. Inc.'s holdings in Marathon Digital were worth $770,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in shares of Marathon Digital during the 4th quarter worth $27,000. Sterling Capital Management LLC lifted its holdings in Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after buying an additional 1,426 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Marathon Digital during the 4th quarter worth about $50,000. US Bancorp DE increased its holdings 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 acquiring an additional 1,505 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Marathon Digital by 211.1% in the 4th 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 during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Digital

In other Marathon Digital news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 176,859 shares of the company's stock, valued at $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the sale, the chief executive officer directly owned 4,146,804 shares of the company's stock, valued at approximately $62,202,060. This trade 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 worth $3,054,629. 0.80% of the stock is currently owned by insiders.

Marathon Digital Price Performance

MARA stock traded down $0.08 during midday trading on Friday, hitting $17.72. 32,142,502 shares of the stock were exchanged, compared to its average volume of 45,162,209. The stock's 50-day moving average price is $15.23 and its 200-day moving average price is $15.46. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -12.22 and a beta of 6.53. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week 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 released its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $213.88 million during the quarter, compared to analyst estimates of $234.19 million. During the same period last year, the firm earned $1.26 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler cut their price target on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, June 13th. 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. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Finally, Barclays raised 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. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of "Hold" and a consensus target price 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.