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 Marathon Digital stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Marathon Digital Trading Up 0.6 %

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

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). The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. 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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Beaird Harris Wealth Management LLC increased its position in Marathon Digital by 121.1% during the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 695 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in Marathon Digital during the first quarter valued at $90,000. DekaBank Deutsche Girozentrale purchased a new stake in Marathon Digital during the first quarter valued at $105,000. GAMMA Investing LLC increased its position in Marathon Digital by 108.0% during the second quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after acquiring an additional 3,565 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in Marathon Digital by 1,555.6% during the second quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock valued at $164,000 after acquiring an additional 7,778 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

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.