Bank of Nova Scotia Acquires New Position in MARA Holdings, Inc. (NASDAQ:MARA)

Bank of Nova Scotia bought a new stake in MARA Holdings, Inc. (NASDAQ:MARA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,000 shares of the business services provider's stock, valued at approximately $1,170,000.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in MARA during the 3rd quarter worth $219,000. HighTower Advisors LLC lifted its position in shares of MARA by 9.2% during the third quarter. HighTower Advisors LLC now owns 134,713 shares of the business services provider's stock valued at $2,176,000 after purchasing an additional 11,360 shares in the last quarter. Wellington Management Group LLP grew its position in MARA by 12.4% in the 3rd quarter. Wellington Management Group LLP now owns 39,231 shares of the business services provider's stock worth $636,000 after purchasing an additional 4,334 shares in the last quarter. M&T Bank Corp increased its stake in MARA by 14.1% in the 3rd quarter. M&T Bank Corp now owns 19,571 shares of the business services provider's stock valued at $317,000 after buying an additional 2,418 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of MARA by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider's stock worth $116,115,000 after buying an additional 378,542 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insider Transactions at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the sale, the chief financial officer now owns 1,773,788 shares of the company's stock, valued at $27,156,694.28. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total value of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares of the company's stock, valued at $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,710 shares of company stock valued at $1,209,825. 0.80% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

A number of brokerages recently commented on MARA. JPMorgan Chase & Co. decreased their price target on MARA from $23.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Rosenblatt Securities started coverage on shares of MARA in a report on Friday, March 7th. They issued a "buy" rating and a $19.00 price target on the stock. B. Riley increased their price objective on MARA from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Finally, HC Wainwright restated a "buy" rating and issued a $28.00 target price on shares of MARA in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $22.80.

MARA Price Performance

NASDAQ MARA traded down $0.37 during trading hours on Tuesday, hitting $12.58. The company had a trading volume of 30,847,778 shares, compared to its average volume of 45,438,291. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 15.92 and a beta of 6.10. MARA Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28. The firm has a 50 day simple moving average of $13.60 and a 200 day simple moving average of $17.62.

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

MARA Company Profile

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.