Marathon Digital (NASDAQ:MARA) CEO Sells $321,258.40 in Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $321,258.40. Following the transaction, the chief executive officer owned 4,725,219 shares in the company, valued at approximately $55,190,557.92. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Down 3.4%

Shares of MARA traded down $0.40 during mid-day trading on Tuesday, reaching $11.23. 41,055,777 shares of the company’s stock were exchanged, compared to its average volume of 45,222,248. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 1.27. The business’s fifty day simple moving average is $8.88 and its 200-day simple moving average is $11.54. Marathon Digital Holdings, Inc. has a 52-week low of $6.66 and a 52-week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The business had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The business’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Marathon Digital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its holdings in Marathon Digital by 56.8% in the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 659 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Marathon Digital by 15.9% in the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 799 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Marathon Digital by 3.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 882 shares during the period. United Capital Management of KS Inc. lifted its holdings in Marathon Digital by 2.4% in the third quarter. United Capital Management of KS Inc. now owns 40,054 shares of the business services provider’s stock valued at $731,000 after acquiring an additional 937 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after acquiring an additional 991 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley assumed coverage on Marathon Digital in a report on Monday, February 9th. They set an “underweight” rating and a $8.00 price target for the company. Cantor Fitzgerald decreased their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, March 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Piper Sandler decreased their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Marathon Digital has an average rating of “Hold” and a consensus price target of $19.90.

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.