Engineers Gate Manager LP Makes New Investment in MARA Holdings $MARA

Key Points

• Engineers Gate Manager LP acquired 84,759 MARA shares worth approximately $1.18 million in the second quarter, while institutional investors and hedge funds collectively own 44.53% of the company.
• MARA shares were trading up 13.7%, supported by a Bitcoin rebound and positive analyst coverage, although the consensus rating remains “Hold” with an average price target of $19.20.
• Insiders sold 86,386 shares worth $928,125 over the past three months, while MARA’s latest quarter showed a $1.60 per-share loss, revenue below expectations, and a 26.7% year-over-year revenue decline.

Engineers Gate Manager LP acquired a new stake in MARA Holdings (NASDAQ:MARA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 84,759 shares of the business services provider's stock, valued at approximately $1,177,000.

Several other large investors have also modified their holdings of the company. Norges Bank acquired a new position in MARA in the fourth quarter valued at $39,492,000. Delta Global Management LP purchased a new position in shares of MARA in the 1st quarter valued at approximately $5,064,000. Hsbc Holdings PLC acquired a new position in shares of MARA in the fourth quarter valued at approximately $5,220,000. Compass Rose Asset Management LP acquired a new position in shares of MARA in the first quarter valued at approximately $4,243,000. Finally, Compass Financial Management LLC acquired a new position in shares of MARA in the second quarter valued at approximately $6,000,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MARA

In related news, Director Douglas K. Mellinger sold 7,000 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the sale, the director owned 231,618 shares of the company's stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Khan sold 16,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the sale, the chief financial officer owned 377,066 shares in the company, valued at approximately $3,472,777.86. This trade represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 86,386 shares of company stock valued at $928,125 over the last three months. Company insiders own 0.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HC Wainwright assumed coverage on shares of MARA in a research note on Friday, September 11th. They issued a "buy" rating and a $20.00 price objective on the stock. Piper Sandler lowered their target price on shares of MARA from $16.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Cantor Fitzgerald lowered their target price on shares of MARA from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Citizens Jmp started coverage on shares of MARA in a research note on Wednesday, June 24th. They set a "market outperform" rating and a $24.00 price target on the stock. Finally, Weiss Ratings raised shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, MARA presently has a consensus rating of "Hold" and an average target price of $19.20.

MARA News Roundup

Here are the key news stories impacting MARA this week:

• Positive Sentiment: Bitcoin rebound supports MARA: Bitcoin reportedly climbed about 6% toward $81,000, a favorable catalyst for MARA because miners’ revenue and asset values are closely tied to Bitcoin prices. MARA’s substantial Bitcoin holdings and high operating leverage can amplify gains in the cryptocurrency. Why Is MARA Stock Surging on Friday?
• Positive Sentiment: Morgan Stanley raised its outlook: Reports said Morgan Stanley doubled its price target for MARA, adding to bullish sentiment and helping reinforce the stock’s upward momentum. The upgrade was accompanied by broader optimism in Wall Street forecasts for the company. MARA Holdings Stock Jumps After Morgan Stanley Doubles Price Target
• Neutral Sentiment: Infrastructure expansion remains a longer-term catalyst: MARA has reported 35,577 BTC held as of June 30 and 70.3 EH/s of energized hashrate, while pursuing additional powered-land capacity in Texas. These initiatives could expand mining capacity, but execution, capital requirements and Bitcoin volatility remain important risks. Why MARA Holdings Stock Is Up Today
• Negative Sentiment: Rally increases profit-taking risk: MARA had already gained roughly 21% over the preceding month, potentially making the stock vulnerable to consolidation or profit-taking. Quiver also reported open-market insider sales by the CEO, CFO and general counsel, with no reported insider purchases in the past six months. MARA Holdings Just Rallied 21% in a Month

MARA Trading Up 13.7%

Shares of MARA stock opened at $13.24 on Friday. MARA Holdings has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The stock has a market cap of $5.11 billion, a P/E ratio of -1.45 and a beta of 5.32. The business has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $11.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The business had revenue of $174.88 million during the quarter, compared to analysts' expectations of $209.44 million. MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.MARA's quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.84 earnings per share. On average, analysts forecast that MARA Holdings will post -1.65 earnings per share for the current fiscal year.

MARA Company Profile

MARA Holdings, Inc, formerly known as Marathon Digital Holdings, Inc, is a digital asset technology company focused primarily on mining bitcoin. The company operates and supports computing infrastructure designed to secure the Bitcoin network by processing transactions and earning bitcoin rewards.

MARA develops and deploys large-scale data center and energy infrastructure for digital asset mining. Its activities include operating mining facilities, managing specialized application-specific integrated circuit (ASIC) mining equipment, and pursuing energy and infrastructure solutions intended to support more efficient and scalable computing operations.

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