Zabi Nowaid Sells 4,887 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) General Counsel Zabi Nowaid sold 4,887 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $16.70, for a total value of $81,612.90. Following the completion of the sale, the general counsel owned 752,489 shares in the company, valued at $12,566,566.30. This trade represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Zabi Nowaid also recently made the following trade(s):

• On Monday, November 10th, Zabi Nowaid sold 25,113 shares of Marathon Digital stock. The stock was sold at an average price of $15.87, for a total value of $398,543.31.

Marathon Digital Trading Down 1.8%

MARA stock traded down $0.29 during trading on Monday, hitting $15.58. The company had a trading volume of 36,992,334 shares, compared to its average volume of 46,338,434. The stock has a market cap of $5.89 billion, a PE ratio of 14.04 and a beta of 6.40. The business has a 50-day moving average of $18.09 and a 200-day moving average of $16.69. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Cantor Fitzgerald cut their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Guggenheim began coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Compass Point began coverage on Marathon Digital in a research note on Monday, September 15th. They set a “neutral” rating and a $18.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Finally, Rosenblatt Securities cut their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MARA. Hollencrest Capital Management grew its stake in Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares during the period. Bessemer Group Inc. raised its position in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new stake in Marathon Digital in the 2nd quarter valued at $31,000. Finally, Salomon & Ludwin LLC bought a new stake in Marathon Digital during the 3rd quarter valued at $47,000. 44.53% of the stock is owned by institutional investors and hedge funds.

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.