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

Key Points

• Marathon Digital CEO Frederick Thiel sold 27,505 shares on April 17 for $321,258.40 at an average price of $11.68 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 0.58% to about 4.725 million shares.
• The company reported a large quarterly loss (EPS -$4.52) and missed revenue expectations, and the stock traded down roughly 3.4% to $11.23 amid mixed analyst ratings and a consensus Hold with a $19.90 target.

Marathon Digital Holdings, Inc. (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $11.68, for a total transaction of $321,258.40. Following the completion of the sale, the chief executive officer directly owned 4,725,219 shares in the company, valued at approximately $55,190,557.92. This trade represents a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Marathon Digital Stock Down 3.4%

NASDAQ:MARA traded down $0.40 during mid-day trading on Tuesday, hitting $11.23. The stock had a trading volume of 41,055,777 shares, compared to its average volume of 45,222,248. The stock has a 50-day simple moving average of $8.88 and a two-hundred day simple moving average of $11.54. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.92.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The firm's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $1.24 EPS. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -0.79 EPS for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Marathon Digital

A number of hedge funds have recently modified their holdings of MARA. Integrated Wealth Concepts LLC grew its position in shares of Marathon Digital by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after acquiring an additional 991 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock worth $88,000 after acquiring an additional 3,032 shares during the last quarter. United Services Automobile Association grew its position in shares of Marathon Digital by 8.2% during the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock worth $257,000 after acquiring an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Marathon Digital by 11.0% during the first 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 worth $7,398,000 after acquiring an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Marathon Digital during the second quarter worth approximately $183,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

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.

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