MARA (NASDAQ:MARA) Shares Gap Up Following Earnings Beat

MARA Holdings, Inc. (NASDAQ:MARA) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.45, but opened at $14.21. MARA shares last traded at $13.40, with a volume of 17,832,966 shares traded.

The business services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. The company had revenue of $214.39 million for the quarter, compared to the consensus estimate of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MARA. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $25.00 in a research note on Thursday, November 21st. B. Riley lifted 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. Piper Sandler assumed coverage on MARA in a research report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of MARA in a research note on Thursday. Finally, Barclays assumed coverage on MARA in a research report on Monday, November 25th. They set an “equal weight” rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.67.

Insider Activity

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.50, for a total transaction of $392,450.00. Following the transaction, the chief financial officer now owns 1,836,129 shares of the company’s stock, valued at $43,149,031.50. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the sale, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at $65,232,861.24. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,215 shares of company stock worth $2,033,766 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. United Advisor Group LLC boosted its stake in shares of MARA by 64.5% during 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 period. Mackenzie Financial Corp raised its holdings in shares of MARA by 5.1% during the fourth 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. Public Employees Retirement System of Ohio acquired a new stake in MARA during the fourth quarter valued at $13,416,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in MARA by 33.7% during the fourth 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 valued at $9,717,000 after purchasing an additional 145,953 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in MARA by 40.1% in the fourth quarter. Vident Advisory LLC now owns 670,094 shares of the business services provider’s stock valued at $11,237,000 after purchasing an additional 191,914 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

MARA Stock Performance

The firm has a 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $18.46. 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 company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 16.62 and a beta of 5.76.

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.