MARA (NASDAQ:MARA) Shares Up 1.6% - Here's Why

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) shot up 1.6% during mid-day trading on Thursday . The company traded as high as $15.70 and last traded at $15.36. 19,944,722 shares were traded during mid-day trading, a decline of 57% from the average session volume of 46,922,447 shares. The stock had previously closed at $15.12.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MARA. B. Riley upped their target price on MARA from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Piper Sandler reduced their target price on MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Compass Point lowered MARA from a "buy" rating to a "neutral" rating and upped their target price for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of MARA in a report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of MARA in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $23.30.

MARA Trading Up 6.2 %

The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 20.28 and a beta of 5.95. 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 business has a fifty day moving average price of $17.05 and a 200 day moving average price of $18.40.

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MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 EPS 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 business had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. As a group, equities analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction 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 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. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 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 $646,367.50. Following the sale, the chief executive officer now directly owns 4,128,090 shares of the company's stock, valued at approximately $97,010,115. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 117,915 shares of company stock valued at $2,289,443. Company insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On MARA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in MARA by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after buying an additional 2,706,271 shares during the last quarter. Geode Capital Management LLC boosted its position in MARA by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,675,994 shares of the business services provider's stock valued at $128,755,000 after buying an additional 518,503 shares during the last quarter. American Century Companies Inc. boosted its position in MARA by 44.3% in the 4th quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock valued at $67,749,000 after buying an additional 1,240,354 shares during the last quarter. Northern Trust Corp boosted its position in MARA by 18.1% in the 4th quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider's stock valued at $55,233,000 after buying an additional 504,142 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in MARA by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider's stock valued at $50,787,000 after buying an additional 372,094 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

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.