Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Sells $431,938.40 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $15.54 on Monday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 7.23 and a beta of 5.51. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The stock’s 50-day moving average is $17.88 and its 200 day moving average is $18.95.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers increased its stake 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 valued at $15,615,000 after buying an additional 439,309 shares during the period. Vima LLC purchased a new position in shares of Marathon Digital during the fourth quarter valued at approximately $949,000. Virtu Financial LLC purchased a new position in shares of Marathon Digital during the fourth quarter valued at approximately $1,629,000. Victory Capital Management Inc. boosted its position in shares of Marathon Digital by 57.2% during the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after purchasing an additional 10,627 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Marathon Digital by 4.3% during the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 4,593 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MARA shares. JPMorgan Chase & Co. dropped their price target on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. B. Riley lifted their price target on 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 reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.