Insider Selling: Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Sells 1,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger sold 1,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $16.77, for a total value of $16,770.00. Following the sale, the director now directly owns 140,756 shares in the company, valued at $2,360,478.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Marathon Digital Price Performance

Marathon Digital stock opened at $18.01 on Friday. The stock has a market capitalization of $5.09 billion, a P/E ratio of 8.38 and a beta of 5.50. The company’s fifty day moving average price is $16.17 and its 200 day moving average price is $18.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. Marathon Digital Holdings, Inc. has a 1 year low of $7.63 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same quarter last year, the business earned ($0.13) EPS. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on MARA shares. JPMorgan Chase & Co. dropped their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie started coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Thursday, October 10th. B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Cantor Fitzgerald began coverage on shares of Marathon Digital in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.79.

Institutional Investors Weigh In On Marathon Digital

Several large investors have recently bought and sold shares of MARA. American International Group Inc. boosted its stake in shares of Marathon Digital by 24.0% in the fourth quarter. American International Group Inc. now owns 105,896 shares of the business services provider’s stock worth $2,487,000 after acquiring an additional 20,472 shares during the last quarter. Vanguard Group Inc. boosted its stake in Marathon Digital by 26.7% during the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after purchasing an additional 4,950,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Marathon Digital by 91.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock worth $1,188,000 after buying an additional 25,205 shares in the last quarter. Pasadena Private Wealth LLC raised its position in shares of Marathon Digital by 25.2% in the first quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock valued at $285,000 after buying an additional 2,537 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in shares of Marathon Digital in the first quarter worth about $624,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.