Marathon Digital (NASDAQ:MARA) CEO Frederick Thiel Sells 27,505 Shares

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CEO Frederick Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $55,074,168. This trade represents a 0.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Trading Up 5.7%

NASDAQ MARA opened at $13.15 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The firm has a market cap of $5.01 billion, a PE ratio of -2.30 and a beta of 5.41. The company has a 50 day moving average price of $10.42 and a 200 day moving average price of $10.52. 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 posted its quarterly earnings data 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). The firm had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 EPS. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.67 EPS for the current fiscal year.

Key Stories Impacting Marathon Digital

Here are the key news stories impacting Marathon Digital this week:

• Positive Sentiment: Bitcoin miners, including Marathon Digital, may benefit from rising demand for power access as AI firms pay premiums for electricity infrastructure, which could improve the sector’s economics. Bitcoin Miners Benefit as AI Firms Pay Premiums for Power Access, Morgan Stanley Says
• Neutral Sentiment: An article comparing Core Scientific and Marathon Digital may have drawn attention to MARA’s relative positioning in the bitcoin mining industry, but it does not appear to be a direct catalyst. Comparing Core Scientific (NASDAQ:CORZ) & Marathon Digital (NASDAQ:MARA)
• Negative Sentiment: Morgan Stanley cut Marathon Digital’s price target from $8.50 to $7.00 and reiterated an underweight rating, signaling a more cautious view on the stock’s upside. Benzinga report on Morgan Stanley price target cut
• Negative Sentiment: CEO Frederick G. Thiel, CFO Salman Hassan Khan, and General Counsel Zabi Nowaid all sold shares under pre-arranged 10b5-1 plans, which can still weigh on investor sentiment because it increases perceived insider selling pressure.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MARA. Integrated Wealth Concepts LLC increased its stake in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares in the last quarter. NewEdge Advisors LLC increased its stake in Marathon Digital by 65.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,032 shares in the last quarter. United Services Automobile Association increased its stake in Marathon Digital by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Marathon Digital by 11.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after purchasing an additional 63,903 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in Marathon Digital during the 2nd quarter valued at approximately $183,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

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