Frederick Thiel Sells 27,505 Shares of Marathon Digital (NASDAQ:MARA) 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 Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the transaction, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marathon Digital Price Performance

Shares of MARA traded down $0.27 during midday trading on Thursday, hitting $10.29. The company’s stock had a trading volume of 41,864,620 shares, compared to its average volume of 41,700,016. 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 one year low of $8.95 and a one year high of $23.45. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 5.72 and a beta of 5.34. The company’s fifty day simple moving average is $10.78 and its two-hundred day simple moving average is $15.12.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data 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 business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its holdings in 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 valued at $25,000 after acquiring an additional 1,300 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. Estabrook Capital Management bought a new stake in shares of Marathon Digital in the 2nd quarter valued at $31,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Marathon Digital during the third quarter worth $47,000. 44.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MARA has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, December 29th. Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating on the stock. Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Monday, November 24th. Finally, Macquarie lifted their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

About Marathon Digital

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.