MARA (NASDAQ:MARA) Shares Up 2.4% – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) rose 2.4% during mid-day trading on Thursday . The stock traded as high as $13.11 and last traded at $12.83. Approximately 10,450,053 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 45,956,438 shares. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MARA shares. B. Riley increased their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Rosenblatt Securities began coverage on MARA in a report on Friday, March 7th. They set a “buy” rating and a $19.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of MARA from $23.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Piper Sandler cut their price objective on shares of MARA from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Barclays lowered their target price on shares of MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.80.

MARA Stock Performance

The stock’s fifty day simple moving average is $15.97 and its 200-day simple moving average is $18.06. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.28 billion, a PE ratio of 15.67 and a beta of 5.95.

MARA (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of ($0.32) by $1.56. The firm had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. On average, research analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at MARA

In other MARA news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the transaction, the chief executive officer now owns 3,910,843 shares of the company’s stock, valued at approximately $65,232,861.24. This trade represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the sale, the chief financial officer now owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,710 shares of company stock valued at $1,226,825 in the last 90 days. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new stake in shares of MARA during the third quarter worth about $255,000. Mutual of America Capital Management LLC boosted its position in MARA by 112.4% during the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock worth $3,308,000 after acquiring an additional 107,963 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in MARA by 2.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 231,248 shares of the business services provider’s stock worth $3,751,000 after acquiring an additional 4,654 shares during the period. Swiss National Bank raised its holdings in MARA by 4.9% in the 3rd quarter. Swiss National Bank now owns 552,000 shares of the business services provider’s stock valued at $8,953,000 after acquiring an additional 25,600 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of MARA during the third quarter worth $1,107,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

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.