Frederick G. Thiel Sells 27,512 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Marathon Digital Price Performance

Shares of Marathon Digital stock opened at $15.54 on Friday. The company’s fifty day simple moving average is $17.88 and its two-hundred day simple moving average is $18.98. Marathon Digital Holdings, Inc. has a 12-month low of $7.16 and a 12-month high of $34.09. The firm has a market cap of $4.39 billion, a PE ratio of 7.23 and a beta of 5.51. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) 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 business had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Trading of Marathon Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC lifted its position in shares of Marathon Digital by 121.1% in 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 period. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital in the first quarter worth about $90,000. DekaBank Deutsche Girozentrale bought a new stake in Marathon Digital during the 1st quarter valued at approximately $105,000. GAMMA Investing LLC raised its position in shares of Marathon Digital by 108.0% in 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 in the last quarter. Finally, Natixis purchased a new position in shares of Marathon Digital in the 1st quarter valued at approximately $177,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Ratings Changes

MARA has been the topic of several research reports. B. Riley lifted their price target 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. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.22.

Marathon Digital Company Profile

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.