Insider Selling: Marathon Digital (NASDAQ:MARA) CEO Sells $296,228.85 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the transaction, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Marathon Digital Stock Up 5.1%

MARA opened at $10.18 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. Marathon Digital Holdings, Inc. has a 12 month low of $9.61 and a 12 month high of $23.45. The stock has a market capitalization of $3.85 billion, a P/E ratio of 5.66 and a beta of 5.42. The business has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $16.02.

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

Analyst Upgrades and Downgrades

MARA has been the subject of several recent analyst reports. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lowered their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Macquarie lifted their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 15th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.56.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MARA. Hollencrest Capital Management lifted its stake in shares of 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 worth $25,000 after buying an additional 1,300 shares during the last quarter. Fifth Third Bancorp raised its holdings in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after acquiring an additional 683 shares during the period. Estabrook Capital Management acquired a new position in Marathon Digital during the 2nd quarter worth $31,000. Bessemer Group Inc. lifted its position in Marathon Digital by 56.8% during 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 during the last quarter. Finally, IFP Advisors Inc boosted its holdings 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 valued at $40,000 after acquiring an additional 2,001 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.