Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Sells $481,337.50 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Marathon Digital Stock Up 4.8 %

MARA stock traded up $0.87 during trading on Friday, hitting $18.88. 47,357,725 shares of the stock traded hands, compared to its average volume of 53,994,375. Marathon Digital Holdings, Inc. has a 1 year low of $7.63 and a 1 year high of $34.09. The firm’s 50 day moving average is $16.17 and its two-hundred day moving average is $18.38. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 8.62 and a beta of 5.50. 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 (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing the consensus estimate 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 period last year, the company posted ($0.13) earnings per share. The business’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on MARA. Macquarie began coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Thursday, October 10th. Cantor Fitzgerald began coverage on shares of Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.79.

Institutional Trading of Marathon Digital

Several institutional investors have recently bought and sold shares of MARA. Beaird Harris Wealth Management LLC boosted its holdings in shares of Marathon Digital by 121.1% during the 1st 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. Ranch Capital Advisors Inc. boosted its holdings in shares of Marathon Digital by 6.1% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 13,532 shares of the business services provider’s stock valued at $269,000 after acquiring an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Marathon Digital by 4.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 881 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Marathon Digital by 2.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its holdings in shares of Marathon Digital by 2.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 66,561 shares of the business services provider’s stock valued at $1,321,000 after acquiring an additional 1,845 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

About Marathon Digital

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.