MARA (NASDAQ:MARA) Shares Down 2.4% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shares dropped 2.4% during mid-day trading on Friday . The company traded as low as $12.11 and last traded at $12.21. 9,809,606 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 45,773,715 shares. The stock had previously closed at $12.50.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities began coverage on shares of MARA in a research note on Friday, March 7th. They issued a "buy" rating and a $19.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of MARA in a research report on Thursday, February 27th. Piper Sandler dropped their target price on MARA from $34.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Barclays lowered their price objective on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Finally, B. Riley upped their price target 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.80.

MARA Stock Performance

The firm's 50-day moving average price is $15.97 and its two-hundred day moving average price is $18.11. 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 stock has a market cap of $4.94 billion, a price-to-earnings ratio of 18.09 and a beta of 5.95.

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MARA (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data 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 during 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%. On average, analysts expect that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction on Monday, March 3rd. The stock was 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 directly owns 1,773,788 shares of the company's stock, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the 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 in the company, valued at approximately $65,232,861.24. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,710 shares of company stock valued at $1,226,825 over the last 90 days. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in MARA by 1,726.2% in the fourth quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider's stock valued at $12,015,000 after buying an additional 677,199 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of MARA by 2.9% during the 4th quarter. California State Teachers Retirement System now owns 274,676 shares of the business services provider's stock worth $4,606,000 after buying an additional 7,864 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of MARA in the 4th quarter valued at $27,000. United Advisor Group LLC grew its position in shares of MARA by 64.5% in the 4th quarter. United Advisor Group LLC now owns 51,007 shares of the business services provider's stock valued at $855,000 after buying an additional 20,007 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in MARA by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after acquiring an additional 878 shares in the last quarter. 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.