Frederick Thiel Sells 27,505 Shares of Marathon Digital (NASDAQ:MARA) Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total transaction of $296,228.85. Following the sale, the chief executive officer directly owned 3,555,489 shares of the company’s stock, valued at approximately $38,292,616.53. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Marathon Digital Stock Up 5.1%

Shares of Marathon Digital stock opened at $10.18 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.85 billion, a P/E ratio of 5.66 and a beta of 5.42. The firm’s 50 day moving average price is $14.64 and its 200-day moving average price is $16.02. Marathon Digital Holdings, Inc. has a 52-week low of $9.61 and a 52-week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The firm had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MARA has been the topic of several recent analyst reports. Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Rosenblatt Securities decreased their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 15th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.56.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in Marathon Digital by 8.4% during the second quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after purchasing an additional 177,771 shares during the period. Emerald Advisers LLC raised its stake in shares of Marathon Digital by 77.4% during the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock valued at $9,088,000 after buying an additional 252,864 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Marathon Digital by 91.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after buying an additional 165,688 shares during the period. Intech Investment Management LLC boosted its stake in shares of Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after buying an additional 20,413 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Marathon Digital by 12.0% during the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after acquiring an additional 34,100 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.