Frederick G. Thiel Sells 27,505 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) Stock

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

Marathon Digital Stock Performance

NASDAQ MARA opened at $18.88 on Friday. The company has a fifty day moving average of $16.20 and a two-hundred day moving average of $18.36. 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 Holdings, Inc. has a 1 year low of $7.63 and a 1 year high of $34.09. The company has a market capitalization of $5.34 billion, a PE ratio of 8.78 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The firm had revenue of $145.14 million during the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. Marathon Digital’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. lifted its position in Marathon Digital by 24.0% during the 4th quarter. American International Group Inc. now owns 105,896 shares of the business services provider’s stock worth $2,487,000 after acquiring an additional 20,472 shares during the period. Vanguard Group Inc. boosted its holdings in Marathon Digital by 26.7% in the 4th quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Marathon Digital by 91.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock worth $1,188,000 after buying an additional 25,205 shares in the last quarter. Pasadena Private Wealth LLC boosted its stake in shares of Marathon Digital by 25.2% in the first quarter. Pasadena Private Wealth LLC now owns 12,609 shares of the business services provider’s stock valued at $285,000 after buying an additional 2,537 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in Marathon Digital in the first quarter valued at $624,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.