Raymond James Financial Inc. Acquires New Shares in MARA Holdings, Inc. (NASDAQ:MARA)

Raymond James Financial Inc. purchased a new stake in MARA Holdings, Inc. (NASDAQ:MARA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 83,948 shares of the business services provider's stock, valued at approximately $1,408,000.

Several other hedge funds also recently modified their holdings of MARA. Beacon Capital Management LLC acquired a new stake in MARA in the fourth quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of MARA by 79.3% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider's stock worth $33,000 after acquiring an additional 860 shares during the last quarter. Spire Wealth Management lifted its stake in shares of MARA by 26.7% in the fourth quarter. Spire Wealth Management now owns 2,843 shares of the business services provider's stock worth $48,000 after acquiring an additional 599 shares during the period. Blue Trust Inc. boosted its holdings in MARA by 415.6% in the fourth quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock valued at $56,000 after acquiring an additional 2,693 shares during the last quarter. Finally, US Bancorp DE increased its position in MARA by 73.3% during the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after purchasing an additional 1,505 shares during the period. Institutional investors and hedge funds own 44.53% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on MARA shares. JPMorgan Chase & Co. cut their target price on shares of MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price on shares of MARA in a research report on Thursday, February 27th. B. Riley increased 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. Piper Sandler cut their target price on MARA from $34.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Finally, Barclays decreased their price target on shares of MARA from $27.00 to $14.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $22.80.

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Insider Activity at MARA

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total transaction of $255,677.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value 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. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,710 shares of company stock worth $1,226,825. 0.80% of the stock is owned by company insiders.

MARA Stock Performance

Shares of MARA stock traded up $0.58 during mid-day trading on Wednesday, hitting $12.42. 41,417,338 shares of the stock were exchanged, compared to its average volume of 45,460,318. MARA Holdings, Inc. has a 12 month low of $11.05 and a 12 month high of $30.28. The company has a 50-day simple moving average of $15.05 and a 200 day simple moving average of $17.97. The company has a market capitalization of $4.30 billion, a P/E ratio of 15.72 and a beta of 6.09. 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 issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $187.11 million. Sell-side analysts anticipate that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

MARA 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.