Insider Selling: Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Sells $209,448.50 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) Director Said Ouissal sold 10,217 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the completion of the transaction, the director now directly owns 60,046 shares of the company’s stock, valued at approximately $1,230,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Marathon Digital Stock Down 2.7 %

Shares of NASDAQ:MARA opened at $19.47 on Monday. The company has a current ratio of 23.07, a quick ratio of 23.07 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $18.86 and a 200-day simple moving average of $20.44. The company has a market capitalization of $5.51 billion, a PE ratio of 9.06 and a beta of 5.46. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, May 9th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). Marathon Digital had a net margin of 106.46% and a negative return on equity of 3.80%. The company had revenue of $165.20 million during the quarter, compared to analyst estimates of $193.89 million. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Marathon Digital by 5.7% in the third quarter. Vanguard Group Inc. now owns 18,523,195 shares of the business services provider’s stock valued at $157,447,000 after acquiring an additional 1,000,225 shares during the period. Charles Schwab Investment Management Inc. raised its position in Marathon Digital by 29.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after purchasing an additional 410,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Marathon Digital by 29.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,295,391 shares of the business services provider’s stock worth $30,429,000 after purchasing an additional 296,776 shares during the period. Victory Capital Management Inc. grew its position in Marathon Digital by 57.2% during the 4th quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock worth $686,000 after purchasing an additional 10,627 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Marathon Digital in the fourth quarter valued at $930,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MARA has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $16.50 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, June 4th. StockNews.com downgraded Marathon Digital from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Tuesday, May 28th. Chardan Capital lowered their price target on shares of Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Finally, B. Riley reduced their price objective on shares of Marathon Digital from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $19.33.

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.