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 Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer directly owned 3,517,566 shares in the company, valued at $37,989,712.80. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $10.50 on Friday. Marathon Digital Holdings, Inc. has a 52 week low of $8.95 and a 52 week high of $23.45. The business’s 50 day moving average price is $10.75 and its 200 day moving average price is $15.07. 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 firm has a market cap of $3.97 billion, a P/E ratio of 5.83 and a beta of 5.34.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on MARA. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, November 24th. Macquarie upped their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Cantor Fitzgerald reduced their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.44.

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management grew its holdings 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 purchasing an additional 1,300 shares during the period. Fifth Third Bancorp lifted its position in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after buying 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. Bessemer Group Inc. increased its holdings in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock worth $40,000 after acquiring an additional 2,001 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

About Marathon Digital

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.