Traders Purchase Large Volume of Marathon Digital Call Options (NASDAQ:MARA)

Marathon Digital Holdings, Inc. (NASDAQ:MARA) was the recipient of unusually large options trading activity on Friday. Investors acquired 323,022 call options on the stock. This is an increase of 34% compared to the average volume of 240,303 call options.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $18.88 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $16.20 and a two-hundred day moving average price of $18.36. Marathon Digital has a twelve month low of $7.63 and a twelve month high of $34.09. The company has a market capitalization of $5.34 billion, a P/E ratio of 8.78 and a beta of 5.50.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. During the same period in the prior year, the business posted ($0.13) earnings per share. Marathon Digital’s revenue was up 77.5% on a year-over-year basis. As a group, research analysts expect that Marathon Digital will post -1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares in the company, valued at approximately $74,389,070. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 91,417 shares of company stock valued at $1,516,536 in the last ninety days. Company insiders own 1.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of Marathon Digital by 126.5% during the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after purchasing an additional 439,309 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Marathon Digital in the second quarter worth $4,498,000. Public Sector Pension Investment Board bought a new stake in shares of Marathon Digital in the second quarter worth $11,920,000. Second Line Capital LLC bought a new stake in shares of Marathon Digital in the second quarter worth $4,060,000. Finally, American International Group Inc. increased its stake in shares of Marathon Digital by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after buying an additional 4,593 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a report on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. B. Riley increased their price target on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Macquarie started coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.79.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.