Marathon Digital Holdings, Inc. (NASDAQ:MARA – Get Free Report) dropped 1.2% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $14.43 and last traded at $14.49. Approximately 37,343,354 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 45,181,756 shares. The stock had previously closed at $14.67.
Specifically, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.30, for a total value of $420,826.50. Following the transaction, the chief executive officer now directly owns 3,983,593 shares of the company’s stock, valued at approximately $60,948,972.90. This trade represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the transaction, the chief financial officer now directly owns 1,413,298 shares in the company, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on MARA. Compass Point reissued a “sell” rating and set a $9.50 price target (down from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Marathon Digital in a research note on Thursday, February 27th. Barclays lifted their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Piper Sandler lowered 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. Finally, Rosenblatt Securities lifted their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. One 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. According to data from MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and a consensus price target of $20.94.
Marathon Digital Stock Down 1.2%
The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of -9.88 and a beta of 6.61. The firm’s 50 day moving average price is $14.69 and its two-hundred day moving average price is $16.03. 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 (NASDAQ:MARA – Get Free Report) last announced its earnings results 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 company had revenue of $213.88 million for the quarter, compared to the consensus estimate of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new position in shares of Marathon Digital during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC grew its position in shares of 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 purchasing an additional 1,426 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Marathon Digital during the 4th quarter worth approximately $50,000. Blue Trust Inc. grew its position in shares of Marathon Digital by 415.6% during the 4th quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider’s stock worth $56,000 after purchasing an additional 2,693 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Marathon Digital by 73.3% during the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider’s stock worth $60,000 after purchasing an additional 1,505 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Marathon Digital
- 3 Small Caps With Big Return Potential
- New All-Time Highs Coming for Broadcom? Wall Street Says Yes
- Buy P&G Now, Before It Sets A New All-Time High
- Overheated Market? Analysts Watch These Red Flags
- Which Wall Street Analysts are the Most Accurate?
- 3 Reasons AMD Could Be the Hottest Stock of the Summer
Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.