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 stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $330,060.00. Following the transaction, the chief executive officer owned 4,589,514 shares in the company, valued at approximately $55,074,168. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Up 5.7%

MARA stock traded up $0.71 on Wednesday, hitting $13.15. 51,364,307 shares of the company were exchanged, compared to its average volume of 44,521,300. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The business’s fifty day moving average is $10.42 and its two-hundred day moving average is $10.52. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -2.30 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. During the same period last year, the company posted $1.24 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

Several institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC grew its stake in Marathon Digital by 26.1% during the first quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock worth $221,000 after buying an additional 5,610 shares during the period. Edgestream Partners L.P. purchased a new stake in Marathon Digital during the first quarter worth approximately $2,864,000. Amundi grew its stake in Marathon Digital by 124.2% during the first quarter. Amundi now owns 53,425 shares of the business services provider’s stock worth $436,000 after buying an additional 29,595 shares during the period. California State Teachers Retirement System grew its stake in Marathon Digital by 23.7% during the first quarter. California State Teachers Retirement System now owns 412,052 shares of the business services provider’s stock worth $3,362,000 after buying an additional 78,842 shares during the period. Finally, Empowered Funds LLC grew its stake in Marathon Digital by 14.2% during the first quarter. Empowered Funds LLC now owns 13,091 shares of the business services provider’s stock worth $107,000 after buying an additional 1,632 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MARA. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Rosenblatt Securities upped their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Cantor Fitzgerald dropped their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley dropped their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.38.

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.