MARA (NASDAQ:MARA) Trading 6.6% Higher - Here's What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report) traded up 6.6% during mid-day trading on Monday . The company traded as high as $26.91 and last traded at $26.43. 72,455,844 shares were traded during mid-day trading, a decline of 20% from the average session volume of 91,132,560 shares. The stock had previously closed at $24.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Macquarie increased their price target on MARA from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Monday, November 18th. Compass Point lowered MARA from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $21.00 to $25.00 in a research report on Thursday, November 21st. Needham & Company LLC reiterated a "hold" rating on shares of MARA in a research report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of MARA in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of MARA from $14.00 to $12.00 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.33.

MARA Stock Performance

The stock has a fifty day simple moving average of $20.01 and a 200-day simple moving average of $19.17. The stock has a market cap of $8.51 billion, a P/E ratio of 33.46 and a beta of 5.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $131.60 million for the quarter, compared to the consensus estimate of $140.26 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The firm's quarterly revenue was up 34.4% compared to the same quarter last year. On average, equities analysts expect that MARA Holdings, Inc. will post -1.02 earnings per share for the current year.

Insider Transactions at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $19.80, for a total transaction of $544,599.00. Following the sale, the chief executive officer now owns 4,155,595 shares in the company, valued at $82,280,781. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jay P. Leupp sold 6,800 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.90, for a total value of $203,320.00. Following the completion of the sale, the director now directly owns 135,756 shares of the company's stock, valued at approximately $4,059,104.40. The trade was a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,622 shares of company stock valued at $2,906,197 over the last 90 days. 0.97% of the stock is owned by corporate insiders.

Institutional Trading of MARA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of MARA by 261.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider's stock worth $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of MARA by 186.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider's stock worth $40,485,000 after acquiring an additional 1,327,969 shares during the period. Principal Financial Group Inc. boosted its stake in shares of MARA by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider's stock worth $26,892,000 after acquiring an additional 1,324,625 shares during the period. Public Sector Pension Investment Board acquired a new position in shares of MARA during the 2nd quarter worth approximately $11,920,000. Finally, Rhumbline Advisers raised its stake in MARA by 126.5% in the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider's stock valued at $15,615,000 after acquiring an additional 439,309 shares during the period. 44.53% of the stock is owned by 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.

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