MARA (NASDAQ:MARA) Shares Down 2.4% – Here’s Why

Shares of MARA Holdings, Inc. (NASDAQ:MARA) dropped 2.4% during mid-day trading on Friday . The company traded as low as $12.11 and last traded at $12.21. Approximately 9,809,606 shares traded hands during trading, a decline of 79% from the average daily volume of 45,773,715 shares. The stock had previously closed at $12.50.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of MARA in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. B. Riley increased their target price on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Rosenblatt Securities initiated coverage on MARA in a report on Friday, March 7th. They set a “buy” rating and a $19.00 target price for the company. Finally, Barclays lowered their target price on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, MARA has a consensus rating of “Hold” and a consensus price target of $22.80.

MARA Price Performance

The company’s 50-day simple moving average is $15.97 and its 200-day simple moving average is $18.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.67 and a beta of 5.95.

MARA (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $1.56. The firm had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. Research analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $18.01, for a total value of $495,365.05. Following the completion of the sale, the chief executive officer now directly owns 4,100,585 shares in the company, valued at approximately $73,851,535.85. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred 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 owns 1,773,788 shares of the company’s stock, valued at approximately $27,156,694.28. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,710 shares of company stock worth $1,226,825 over the last three months. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On MARA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of 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 buying an additional 217,106 shares in the last quarter. Mutual of America Capital Management LLC raised its position in MARA by 112.4% during the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock valued at $3,308,000 after purchasing an additional 107,963 shares in the last quarter. Weiss Asset Management LP acquired a new position in MARA during the third quarter valued at approximately $1,557,000. Intech Investment Management LLC acquired a new position in MARA during the third quarter valued at approximately $1,107,000. Finally, Public Sector Pension Investment Board raised its position in MARA by 4.0% during 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 purchasing an additional 24,300 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

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.