Marathon Digital (NASDAQ:MARA) Shares Down 1.1% on Insider Selling

Key Points

• Marathon Digital's shares declined by 1.1% due to insider selling, with CEO Frederick G. Thiel selling 27,505 shares worth approximately $478,036.90.
• Analysts have generally positive sentiment about Marathon Digital, with seven analysts rating it as a Buy and several raising price targets, including Cantor Fitzgerald increasing theirs from $34 to $39.
• The company reported a 64% year-over-year increase in quarterly revenue, totaling $238.50 million, and surpassed earnings estimates significantly with an EPS of $1.84.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price traded down 1.1% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $18.26 and last traded at $18.29. 62,396,148 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 44,830,543 shares. The stock had previously closed at $18.50.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the sale, the chief executive officer directly owned 3,755,789 shares in the company, valued at $65,275,612.82. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $16.24, for a total value of $564,047.68. Following the transaction, the chief financial officer directly owned 318,428 shares of the company's stock, valued at $5,171,270.72. The trade was a 9.83% decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $19.00 to $22.00 in a research report on Monday, July 28th. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Cantor Fitzgerald upped their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.50.

Marathon Digital Trading Down 1.1%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $6.78 billion, a P/E ratio of 16.48 and a beta of 6.35. The stock has a 50-day moving average of $16.61 and a two-hundred day moving average of $15.12.

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 business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company's quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.72) EPS. On average, equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Hedge Funds Weigh In On Marathon Digital

Several large investors have recently made changes to their positions in MARA. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital in the fourth quarter valued at about $27,000. Fifth Third Bancorp increased its stake in Marathon Digital by 59.9% during 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 last quarter. Estabrook Capital Management purchased a new stake in Marathon Digital in the second quarter valued at about $31,000. IFP Advisors Inc boosted its stake in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after purchasing an additional 2,001 shares in the last quarter. Finally, CX Institutional acquired a new stake in Marathon Digital during the 1st quarter worth about $68,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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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