Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel Sells 27,512 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $15.54 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.39 billion, a PE ratio of 7.23 and a beta of 5.51. The company has a 50 day moving average of $17.88 and a 200-day moving average of $19.00. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 77.5% on a year-over-year basis. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Marathon Digital

Several large investors have recently bought and sold shares of MARA. SRN Advisors LLC lifted its holdings in shares of Marathon Digital by 136.4% in the second quarter. SRN Advisors LLC now owns 151,252 shares of the business services provider’s stock worth $3,002,000 after acquiring an additional 87,274 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Marathon Digital in the 2nd quarter valued at approximately $1,518,000. Cetera Investment Advisers grew its stake in shares of Marathon Digital by 58.5% during the second quarter. Cetera Investment Advisers now owns 259,447 shares of the business services provider’s stock worth $5,150,000 after buying an additional 95,774 shares during the last quarter. Second Line Capital LLC acquired a new position in shares of Marathon Digital during the second quarter worth $4,060,000. Finally, Creative Planning lifted its stake in shares of Marathon Digital by 26.4% in the 2nd quarter. Creative Planning now owns 28,890 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 6,035 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on MARA shares. JPMorgan Chase & Co. cut 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. B. Riley boosted their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.22.

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.