Insider Selling: Marathon Digital (NASDAQ:MARA) CFO Sells $146,880.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARAGet Free Report) CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $146,880.00. Following the transaction, the chief financial officer directly owned 343,165 shares in the company, valued at $3,150,254.70. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Salman Hassan Khan also recently made the following trade(s):

  • On Tuesday, February 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $7.66, for a total value of $122,560.00.

Marathon Digital Stock Performance

Shares of MARA opened at $8.46 on Friday. The firm has a market capitalization of $3.22 billion, a P/E ratio of -2.14 and a beta of 5.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45. The business has a fifty day moving average of $9.04 and a 200 day moving average of $12.75.

Marathon Digital (NASDAQ:MARAGet Free Report) last posted its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Marathon Digital

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management increased its stake in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares in the last quarter. Estabrook Capital Management bought a new stake in shares of Marathon Digital during the 2nd quarter valued at $31,000. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Marathon Digital during the 4th quarter valued at $36,000. Finally, Hantz Financial Services Inc. boosted its holdings in Marathon Digital by 344.8% in the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after buying an additional 3,893 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital News Roundup

Here are the key news stories impacting Marathon Digital this week:

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, November 24th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. cut their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.00.

Check Out Our Latest Analysis on Marathon Digital

Marathon Digital Company Profile

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Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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Insider Buying and Selling by Quarter for Marathon Digital (NASDAQ:MARA)

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