Marathon Digital (NASDAQ:MARA) Shares Gap Down After Insider Selling

Marathon Digital Holdings, Inc. (NASDAQ:MARA)’s stock price gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $18.88, but opened at $18.32. Marathon Digital shares last traded at $18.30, with a volume of 4,919,898 shares traded.

Specifically, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,077,232 shares in the company, valued at approximately $36,351,560. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

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

Marathon Digital Price Performance

The company has a 50-day moving average of $16.34 and a two-hundred day moving average of $18.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a market capitalization of $5.36 billion, a PE ratio of 8.82 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The company’s revenue was up 77.5% on a year-over-year basis. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the stock. American International Group Inc. grew its holdings in shares of Marathon Digital by 24.0% during the 4th quarter. American International Group Inc. now owns 105,896 shares of the business services provider’s stock worth $2,487,000 after purchasing an additional 20,472 shares during the period. Vanguard Group Inc. increased its position in shares of Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock worth $551,395,000 after acquiring an additional 4,950,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Marathon Digital by 91.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock valued at $1,188,000 after acquiring an additional 25,205 shares during the period. Pasadena Private Wealth LLC lifted its holdings in shares of Marathon Digital by 25.2% during the 1st quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock valued at $285,000 after acquiring an additional 2,537 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in shares of Marathon Digital during the 1st quarter valued at $624,000. Institutional investors and hedge funds 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.