Salman Hassan Khan Sells 16,700 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Marathon Digital Trading Up 0.6 %

Marathon Digital stock opened at $15.54 on Friday. 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 firm has a 50-day moving average of $17.88 and a 200-day moving average of $18.98. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 7.23 and a beta of 5.51. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently added to or reduced their stakes in the company. Beaird Harris Wealth Management LLC increased its stake in shares of Marathon Digital by 121.1% during the 1st quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after purchasing an additional 695 shares during the last quarter. FinTrust Capital Advisors LLC bought a new stake in Marathon Digital in the first quarter valued at approximately $90,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Marathon Digital in the first quarter valued at approximately $105,000. GAMMA Investing LLC boosted its stake in shares of Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock worth $136,000 after acquiring an additional 3,565 shares during the period. Finally, Natixis acquired a new position in shares of Marathon Digital during the 1st quarter worth approximately $177,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MARA. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.22.

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.