MARA (NASDAQ:MARA) Shares Down 2.8% Following Analyst Downgrade

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded down 2.8% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $23.00 to $18.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. MARA traded as low as $12.62 and last traded at $12.74. 9,371,474 shares were traded during mid-day trading, a decline of 80% from the average session volume of 46,332,603 shares. The stock had previously closed at $13.11.

Several other equities research analysts have also commented on the stock. HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of MARA in a research note on Thursday, February 27th. Macquarie raised their price objective on MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, November 18th. Rosenblatt Securities initiated coverage on MARA in a research note on Friday, March 7th. They set a "buy" rating and a $19.00 price objective for the company. B. Riley increased their target price on MARA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Finally, Compass Point lowered MARA from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. One 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. According to data from MarketBeat.com, MARA presently has a consensus rating of "Hold" and a consensus target price of $22.80.

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Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of the 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 transaction, the chief financial officer now owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $646,367.50. Following the completion of the sale, the chief executive officer now owns 4,128,090 shares in the company, valued at $97,010,115. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,915 shares of company stock worth $2,265,643. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MARA

Hedge funds and other institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC bought a new stake in shares of MARA in the fourth quarter worth $27,000. United Advisor Group LLC boosted its position in MARA by 64.5% in the fourth quarter. United Advisor Group LLC now owns 51,007 shares of the business services provider's stock worth $855,000 after purchasing an additional 20,007 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of MARA by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of MARA during the 4th quarter valued at about $13,416,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MARA by 33.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 579,408 shares of the business services provider's stock worth $9,717,000 after purchasing an additional 145,953 shares during the period. 44.53% of the stock is owned by institutional investors.

MARA Stock Up 8.4 %

The company's 50 day moving average price is $16.73 and its two-hundred day moving average price is $18.26. 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 stock has a market cap of $4.56 billion, a P/E ratio of 16.69 and a beta of 5.95.

MARA (NASDAQ:MARA - Get Free Report) last issued 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. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $214.39 million for the quarter, compared to analysts' expectations of $187.11 million. Equities analysts forecast 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.