Marathon Digital (NASDAQ:MARA) Director Douglas Mellinger Sells 1,000 Shares

Key Points

• Director Douglas Mellinger sold 1,000 shares of Marathon Digital for a total of $20,710, decreasing his ownership by 0.58% to 171,859 shares.
• Marathon Digital reported a strong earnings performance with an EPS of $1.84, significantly surpassing analysts' expectations of ($0.29) for the quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Marathon Digital, with the average price target set at $23.40, reflecting optimism about the stock's future performance.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) Director Douglas Mellinger sold 1,000 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $20.71, for a total transaction of $20,710.00. Following the sale, the director directly owned 171,859 shares in the company, valued at $3,559,199.89. This trade represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Marathon Digital Stock Performance

Shares of MARA stock traded down $0.05 on Wednesday, hitting $20.20. The company's stock had a trading volume of 49,948,043 shares, compared to its average volume of 71,757,912. The stock's 50 day moving average is $16.64 and its 200-day moving average is $15.60. The company has a market capitalization of $7.48 billion, a PE ratio of 18.20 and a beta of 6.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.72) earnings per share. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on MARA shares. Piper Sandler boosted their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Compass Point initiated coverage on Marathon Digital in a research note on Monday, September 15th. They set a "neutral" rating and a $18.00 price objective for the company. Macquarie increased their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Marathon Digital in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the company an "overweight" rating in a report on Monday. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.40.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fiduciary Alliance LLC raised its holdings in shares of Marathon Digital by 24.8% during the third quarter. Fiduciary Alliance LLC now owns 90,790 shares of the business services provider's stock worth $1,658,000 after acquiring an additional 18,055 shares during the period. GAMMA Investing LLC grew its position in shares of Marathon Digital by 11.0% in the 3rd quarter. GAMMA Investing LLC now owns 13,731 shares of the business services provider's stock valued at $251,000 after acquiring an additional 1,359 shares during the period. Corient Private Wealth LLC bought a new position in shares of Marathon Digital in the 2nd quarter valued at about $323,000. WT Wealth Management grew its position in shares of Marathon Digital by 25.9% in the 2nd quarter. WT Wealth Management now owns 15,269 shares of the business services provider's stock valued at $239,000 after acquiring an additional 3,143 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of Marathon Digital by 38.6% during the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after buying an additional 1,340 shares during the period. 44.53% of the stock is owned by institutional investors.

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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