Franklin Resources Inc. Raises Stock Position in MARA Holdings, Inc. (NASDAQ:MARA)

Franklin Resources Inc. raised its stake in MARA Holdings, Inc. (NASDAQ:MARA - Free Report) by 2,004.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 665,450 shares of the business services provider's stock after purchasing an additional 633,829 shares during the quarter. Franklin Resources Inc. owned 0.20% of MARA worth $11,160,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management raised its holdings in MARA by 26.7% during the 4th quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock valued at $48,000 after buying an additional 599 shares during the last quarter. United Services Automobile Association increased its position in shares of MARA by 3.4% in the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider's stock valued at $320,000 after acquiring an additional 635 shares during the period. Stonehage Fleming Financial Services Holdings Ltd raised its stake in shares of MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock valued at $33,000 after acquiring an additional 860 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of MARA by 0.5% during the fourth quarter. New York State Teachers Retirement System now owns 277,256 shares of the business services provider's stock worth $4,650,000 after purchasing an additional 1,299 shares during the period. Finally, US Bancorp DE grew its stake in shares of MARA by 73.3% in the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock worth $60,000 after purchasing an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have commented on MARA. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of MARA in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of MARA in a research note on Thursday, February 27th. Rosenblatt Securities initiated 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 upped their price objective on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their target price 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. One equities research 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. Based on data from MarketBeat, MARA currently has an average rating of "Hold" and an average target price of $22.80.

MARA Stock Up 6.6 %

MARA traded up $0.77 during midday trading on Friday, reaching $12.51. The company's stock had a trading volume of 34,860,268 shares, compared to its average volume of 45,510,279. MARA Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The stock's 50-day moving average is $13.77 and its 200-day moving average is $17.69. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 15.84 and a beta of 6.10. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $1.56. The company had revenue of $214.39 million for 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%. As a group, research analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $18.01, for a total transaction of $495,365.05. Following the sale, the chief executive officer now owns 4,100,585 shares in the company, valued at $73,851,535.85. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total transaction of $255,677.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders sold 72,710 shares of company stock worth $1,226,825 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

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.