MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.45, but opened at $14.21. MARA shares last traded at $13.40, with a volume of 17,832,966 shares traded.
The business services provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. B. Riley raised their price objective on shares of MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. Needham & Company LLC restated a "hold" rating on shares of MARA in a report on Thursday. Barclays initiated coverage on MARA in a report on Monday, November 25th. They issued an "equal weight" rating and a $27.00 price objective on the stock. Compass Point cut MARA from a "buy" rating to a "neutral" rating and raised their target price for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of MARA in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MARA currently has an average rating of "Hold" and a consensus price target of $25.67.
Check Out Our Latest Research Report on MARA
Insider Activity at MARA
In other news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the sale, the chief financial officer now owns 1,836,129 shares of the company's stock, valued at approximately $43,149,031.50. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value 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 disclosure for this sale can be found here. Insiders sold 101,215 shares of company stock worth $2,033,766 in the last three months. 0.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On MARA
A number of hedge funds have recently bought and sold shares of the stock. Creative Planning grew its position in shares of MARA by 17.2% during the third quarter. Creative Planning now owns 33,864 shares of the business services provider's stock worth $549,000 after buying an additional 4,974 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in MARA by 1,522.0% during the 3rd quarter. International Assets Investment Management LLC now owns 19,561 shares of the business services provider's stock worth $317,000 after buying an additional 18,355 shares during the last quarter. New York State Teachers Retirement System lifted its stake in MARA by 2.0% during the third quarter. New York State Teachers Retirement System now owns 275,957 shares of the business services provider's stock worth $4,476,000 after purchasing an additional 5,479 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in MARA in the third quarter valued at approximately $166,000. Finally, Financial Advocates Investment Management lifted its position in shares of MARA by 5.2% during the 3rd quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider's stock worth $230,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.
MARA Stock Performance
The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average price is $17.52 and its 200-day moving average price is $18.44. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 17.62 and a beta of 5.76.
About MARA
(
Get Free Report)
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.
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