MARA (NASDAQ:MARA) Shares Down 1.6% - Here's Why

MARA Holdings, Inc. (NASDAQ:MARA - Get Free Report)'s share price was down 1.6% during mid-day trading on Monday . The stock traded as low as $15.56 and last traded at $15.94. Approximately 12,979,707 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 44,887,202 shares. The stock had previously closed at $16.21.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Rosenblatt Securities initiated coverage on MARA in a report on Friday, March 7th. They set a "buy" rating and a $19.00 price target on the stock. Needham & Company LLC restated a "hold" rating on shares of MARA in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on MARA from $23.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Piper Sandler lowered their price objective on MARA from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Compass Point restated a "sell" rating and issued a $9.50 price objective (down from $25.00) on shares of MARA in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, MARA has a consensus rating of "Hold" and a consensus price target of $20.72.

MARA Price Performance

The firm has a 50 day moving average of $13.22 and a 200-day moving average of $17.16. The company has a market cap of $5.74 billion, a P/E ratio of 20.66 and a beta of 6.82. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22.

MARA (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The company had revenue of $213.88 million during the quarter, compared to the consensus estimate of $234.19 million. During the same period in the previous year, the business earned $1.26 earnings per share. MARA's revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities research analysts predict that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In other news, CFO Salman Hassan Khan sold 16,700 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $15.31, for a total value of $255,677.00. Following the transaction, the chief financial officer now directly owns 1,773,788 shares in the company, valued at approximately $27,156,694.28. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 in the company, valued at approximately $65,232,861.24. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,615 shares of company stock worth $2,088,610. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of MARA

Several hedge funds have recently made changes to their positions in MARA. Beacon Capital Management LLC purchased a new stake in MARA in the fourth quarter valued at approximately $26,000. Park Square Financial Group LLC acquired a new stake in MARA in the fourth quarter valued at $27,000. Sterling Capital Management LLC raised its holdings in shares of MARA by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares during the period. Stonehage Fleming Financial Services Holdings Ltd grew 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. Finally, Spire Wealth Management grew its position in shares of MARA by 26.7% during 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 last quarter. Institutional investors and hedge funds 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.

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