MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s stock price rose 11.5% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $14.85 and last traded at $13.88. Approximately 36,068,192 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 34,833,117 shares. The stock had previously closed at $12.45.
The business services provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $1.56. The firm had revenue of $214.39 million for the quarter, compared to analyst estimates of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on MARA. Barclays assumed coverage on shares of MARA in a report on Monday, November 25th. They issued an "equal weight" rating and a $27.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research report on Thursday. B. Riley upped their price target on MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Compass Point downgraded MARA from a "buy" rating to a "neutral" rating and raised their price objective for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. upgraded MARA from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $25.67.
Check Out Our Latest Stock Report on MARA
Insider Transactions at MARA
In related news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction dated 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 sale, the chief executive officer now owns 3,910,843 shares in the company, valued at approximately $65,232,861.24. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $23.50, for a total transaction of $392,450.00. Following the completion of the transaction, the chief financial officer now owns 1,836,129 shares in the company, valued at approximately $43,149,031.50. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,215 shares of company stock valued at $2,033,766 over the last three months. 0.80% of the stock is currently owned by insiders.
Institutional Trading of MARA
A number of hedge funds have recently bought and sold shares of MARA. Creative Planning raised its holdings in MARA by 17.2% in the 3rd quarter. Creative Planning now owns 33,864 shares of the business services provider's stock valued at $549,000 after acquiring an additional 4,974 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of MARA by 1,522.0% in the third quarter. International Assets Investment Management LLC now owns 19,561 shares of the business services provider's stock valued at $317,000 after purchasing an additional 18,355 shares during the period. New York State Teachers Retirement System increased its stake in MARA by 2.0% in the third quarter. New York State Teachers Retirement System now owns 275,957 shares of the business services provider's stock valued at $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 $166,000. Finally, Financial Advocates Investment Management boosted its stake in MARA by 5.2% in 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 Up 6.0 %
The firm has a fifty day simple moving average of $17.52 and a 200 day simple moving average of $18.44. 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 company has a market cap of $4.72 billion, a PE ratio of 17.62 and a beta of 5.76.
MARA Company Profile
(
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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