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 firm’s stock in a transaction 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 directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $15.54 on Friday. The company has a 50 day moving average of $17.88 and a 200 day moving average of $18.98. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.39 billion, a P/E ratio of 7.23 and a beta of 5.51. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09.

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

Wall Street Analyst Weigh In

MARA has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. B. Riley boosted their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and an average price target of $19.22.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently modified their holdings of MARA. Rhumbline Advisers grew its holdings in shares of Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares in the last quarter. Vima LLC purchased a new stake in Marathon Digital in the fourth quarter valued at approximately $949,000. Virtu Financial LLC bought a new stake in Marathon Digital during the fourth quarter valued at approximately $1,629,000. Victory Capital Management Inc. grew its stake in Marathon Digital by 57.2% in the 4th quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock worth $686,000 after buying an additional 10,627 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Marathon Digital by 4.3% in the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after buying an additional 4,593 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

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.