Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Sells $536,897.60 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. The trade was a 0.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Marathon Digital Stock Down 2.3%

Shares of MARA traded down $0.46 on Friday, reaching $19.51. The company's stock had a trading volume of 41,305,648 shares, compared to its average volume of 45,011,313. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The stock has a market capitalization of $6.87 billion, a PE ratio of -13.46 and a beta of 6.53. The firm has a fifty day moving average of $16.19 and a 200-day moving average of $15.42.

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 the consensus estimate of ($0.34) by ($0.06). The firm had revenue of $213.88 million during the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MARA. Barclays boosted their price objective on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Piper Sandler dropped their target price 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 restated a "sell" rating and issued a $9.50 target price (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Finally, Rosenblatt Securities boosted their target price on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.94.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in Marathon Digital by 11.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 209,652 shares of the business services provider's stock worth $3,287,000 after buying an additional 21,605 shares during the period. CX Institutional boosted its holdings in Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after buying an additional 749 shares during the period. Fifth Third Bancorp boosted its holdings in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the period. GAMMA Investing LLC boosted its holdings in Marathon Digital by 37.1% in the 2nd quarter. GAMMA Investing LLC now owns 12,372 shares of the business services provider's stock worth $194,000 after buying an additional 3,348 shares during the period. Finally, Rooted Wealth Advisors Inc. bought a new position in Marathon Digital in the 2nd quarter worth approximately $215,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

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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