MARA (NASDAQ:MARA) Shares Up 6.2% – Here’s What Happened

Shares of MARA Holdings, Inc. (NASDAQ:MARA) traded up 6.2% during trading on Friday . The stock traded as high as $12.92 and last traded at $12.91. 14,979,077 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 46,281,213 shares. The stock had previously closed at $12.16.

Analyst Ratings Changes

A number of research analysts have issued reports on MARA shares. Macquarie lifted their price objective on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a report on Thursday, February 27th. B. Riley upped their price objective on shares of MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Compass Point cut shares of MARA from a “buy” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $25.00 in a research note on Thursday, November 21st. Finally, Rosenblatt Securities initiated coverage on MARA in a report on Friday, March 7th. They set a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.80.

MARA Stock Performance

The firm has a market cap of $4.56 billion, a P/E ratio of 16.70 and a beta of 5.95. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $16.73 and a 200-day moving average of $18.26.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $1.24 EPS 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 company had revenue of $214.39 million during the quarter, compared to analysts’ expectations of $187.11 million. Research analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the completion of the sale, the chief executive officer now directly owns 4,128,090 shares of the company’s stock, valued at $97,010,115. This represents a 0.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA 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 $392,450.00. Following the transaction, the chief financial officer now directly owns 1,836,129 shares in the company, valued at $43,149,031.50. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,915 shares of company stock worth $2,265,643. Insiders own 0.80% of the company’s stock.

Institutional Trading of MARA

A number of large investors have recently made changes to their positions in MARA. Charles Schwab Investment Management Inc. grew its stake in MARA by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock valued at $43,086,000 after acquiring an additional 217,106 shares during the period. Mutual of America Capital Management LLC increased its stake in MARA by 112.4% during the 3rd quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock worth $3,308,000 after purchasing an additional 107,963 shares in the last quarter. Weiss Asset Management LP acquired a new stake in MARA during the 3rd quarter worth approximately $1,557,000. Intech Investment Management LLC bought a new position in MARA in the third quarter valued at approximately $1,107,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of MARA by 4.0% in the third quarter. Public Sector Pension Investment Board now owns 624,818 shares of the business services provider’s stock valued at $10,135,000 after buying an additional 24,300 shares during the period. Institutional investors own 44.53% of the company’s stock.

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.