Insider Selling: Marathon Digital (NASDAQ:MARA) CEO Sells $296,228.85 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 Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total transaction of $296,228.85. Following the completion of the sale, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Marathon Digital Stock Performance

Shares of NASDAQ MARA traded up $0.49 during midday trading on Friday, hitting $10.18. 55,020,570 shares of the company’s stock were exchanged, compared to its average volume of 46,257,906. Marathon Digital Holdings, Inc. has a twelve month low of $9.61 and a twelve month high of $23.45. The firm has a market cap of $3.85 billion, a P/E ratio of 5.66 and a beta of 5.42. The stock’s 50 day moving average price is $14.81 and its 200-day moving average price is $16.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Institutional Trading of Marathon Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management grew its position in Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after buying an additional 1,300 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Marathon Digital by 59.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after acquiring an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new position in shares of Marathon Digital in the 2nd quarter worth $31,000. Bessemer Group Inc. raised its position in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 2,001 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MARA has been the subject of several research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Macquarie boosted their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price target on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.56.

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.