Marathon Digital (NASDAQ:MARA) Director Douglas Mellinger Sells 1,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Douglas Mellinger sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $20.71, for a total value of $20,710.00. Following the transaction, the director directly owned 171,859 shares of the company’s stock, valued at approximately $3,559,199.89. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marathon Digital Trading Down 0.2%

NASDAQ:MARA opened at $20.20 on Thursday. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $16.64 and a two-hundred day moving average price of $15.60. The company has a market cap of $7.48 billion, a P/E ratio of 18.20 and a beta of 6.33.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the prior year, the firm posted ($0.72) EPS. The business’s revenue was up 64.0% on a year-over-year basis. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Marathon Digital

Several hedge funds have recently added to or reduced their stakes in MARA. Marex Group plc acquired a new stake in Marathon Digital during the 2nd quarter valued at $84,301,000. Norges Bank acquired a new stake in Marathon Digital during the 2nd quarter valued at $59,255,000. American Century Companies Inc. lifted its holdings in Marathon Digital by 55.7% during the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider’s stock valued at $72,334,000 after purchasing an additional 2,250,082 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Marathon Digital during the 1st quarter valued at $14,810,000. Finally, Vanguard Group Inc. lifted its holdings in Marathon Digital by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider’s stock valued at $457,832,000 after purchasing an additional 1,028,512 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

MARA has been the subject of several recent analyst reports. Macquarie increased their price objective on Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Compass Point initiated coverage on Marathon Digital in a report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price objective for the company. Piper Sandler increased their price objective on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.