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 company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $329,784.95. Following the completion of the sale, the chief executive officer owned 3,582,994 shares in the company, valued at $42,960,098.06. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marathon Digital Stock Up 3.4%

Shares of NASDAQ MARA opened at $11.48 on Thursday. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The business has a fifty day moving average of $17.67 and a two-hundred day moving average of $16.61. The stock has a market cap of $4.34 billion, a PE ratio of 10.38 and a beta of 6.40.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Marathon Digital by 8.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock worth $35,846,000 after purchasing an additional 177,771 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of Marathon Digital by 77.4% during the second quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after buying an additional 252,864 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in Marathon Digital by 91.3% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after buying an additional 165,688 shares during the last quarter. Intech Investment Management LLC lifted its stake in Marathon Digital by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock valued at $1,848,000 after acquiring an additional 20,413 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Marathon Digital by 12.0% during the 2nd quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after acquiring an additional 34,100 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MARA shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research report on Monday. Macquarie upped their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald dropped their target price on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Compass Point began coverage on Marathon Digital in a report on Monday, September 15th. They issued a “neutral” rating and a $18.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

About Marathon Digital

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.