Marathon Digital (NASDAQ:MARA) Shares Down 1.2% on Insider Selling

Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) 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 traded hands during 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 Marathon Digital stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.30, for a total transaction of $420,826.50. Following the sale, the chief executive officer now directly owns 3,983,593 shares in the company, valued at $60,948,972.90. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the sale, the chief financial officer now owns 1,413,298 shares in the company, valued at $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research reports. Compass Point restated 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. Rosenblatt Securities lifted their price objective on Marathon Digital from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Piper Sandler lowered their price objective on Marathon Digital from $30.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Barclays raised their price target on Marathon Digital from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.94.

Marathon Digital Stock Down 1.2%

The company has a 50 day moving average price of $14.66 and a two-hundred day moving average price of $16.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $5.10 billion, a PE ratio of -9.99 and a beta of 6.61.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business had revenue of $213.88 million during the quarter, compared to analysts’ expectations of $234.19 million. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. Analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MARA. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital in the fourth quarter worth $27,000. Sterling Capital Management LLC raised its stake in shares of Marathon Digital by 358.3% in the fourth 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 during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Marathon Digital in the fourth quarter worth $50,000. Blue Trust Inc. raised its stake in shares of Marathon Digital by 415.6% in the fourth 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 during the last quarter. Finally, US Bancorp DE increased its position in Marathon Digital by 73.3% during the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider’s stock valued at $60,000 after acquiring an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.