Marathon Digital (NASDAQ:MARA) CEO Sells $297,054.00 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $10.50 on Friday. The company has a 50 day moving average price of $10.75 and a 200 day moving average price of $15.06. The firm has a market capitalization of $3.97 billion, a P/E ratio of 5.83 and a beta of 5.34. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. Marathon Digital Holdings, Inc. has a 52 week low of $8.95 and a 52 week high of $23.45.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday, December 29th. Macquarie raised their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Rosenblatt Securities dropped their target price on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They issued a “neutral” rating on the stock. Finally, Cantor Fitzgerald decreased their price objective on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marathon Digital has an average rating of “Moderate Buy” and a consensus target price of $22.44.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Marathon Digital by 8.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after purchasing an additional 177,771 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of Marathon Digital by 77.4% during the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after buying an additional 252,864 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Marathon Digital by 91.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after buying an additional 165,688 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Marathon Digital in the third quarter worth about $5,438,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Marathon Digital by 12.0% in the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after buying an additional 34,100 shares in the last quarter. 44.53% of the stock is 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.