Insider Selling: Marathon Digital (NASDAQ:MARA) CFO Sells 16,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the completion of the sale, the chief financial officer owned 441,066 shares of the company’s stock, valued at $5,151,650.88. This represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salman Hassan Khan also recently made the following trade(s):

• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $9.18, for a total value of $146,880.00.
• On Tuesday, February 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The stock was sold at an average price of $7.66, for a total value of $122,560.00.

Marathon Digital Trading Down 3.4%

Shares of MARA stock traded down $0.40 during mid-day trading on Tuesday, reaching $11.23. The stock had a trading volume of 41,055,777 shares, compared to its average volume of 45,222,248. The firm’s 50 day simple moving average is $8.88 and its 200 day simple moving average is $11.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the prior year, the business posted $1.24 EPS. Marathon Digital’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on MARA shares. Morgan Stanley started coverage on Marathon Digital in a research report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective for the company. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Piper Sandler reduced their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Finally, Cantor Fitzgerald reduced their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average target price of $19.90.

Hedge Funds Weigh In On Marathon Digital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management lifted its position in shares of Marathon Digital by 2,407.4% during the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares during the period. Bessemer Group Inc. lifted its position in shares of Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after buying an additional 659 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Marathon Digital during the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. lifted its position in shares of Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after buying an additional 3,893 shares during the period. Finally, Salomon & Ludwin LLC bought a new position in shares of Marathon Digital during the 3rd quarter worth approximately $47,000. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.