MARA Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger Sells 1,000 Shares

MARA Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $23.80, for a total value of $23,800.00. Following the sale, the director now owns 138,756 shares in the company, valued at approximately $3,302,392.80. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

MARA Price Performance

Shares of NASDAQ:MARA opened at $21.61 on Thursday. The firm has a market capitalization of $6.95 billion, a PE ratio of 27.35 and a beta of 5.63. 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 business’s 50 day moving average is $21.09 and its 200-day moving average is $19.32. MARA Holdings, Inc. has a 1-year low of $13.16 and a 1-year high of $34.09.

MARA (NASDAQ:MARA) last posted its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $131.60 million during the quarter, compared to the consensus estimate of $140.26 million. During the same period in the previous year, the company posted ($0.05) EPS. The firm’s revenue for the quarter was up 34.4% compared to the same quarter last year. Sell-side analysts predict that MARA Holdings, Inc. will post -1.02 earnings per share for the current year.

Analysts Set New Price Targets

MARA has been the topic of a number of recent analyst reports. Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $25.00 in a report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $28.00 target price on shares of MARA in a research note on Wednesday, December 4th. Macquarie raised their target price on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upgraded MARA from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, MARA currently has a consensus rating of “Hold” and an average target price of $25.50.

Institutional Investors Weigh In On MARA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in shares of MARA by 62.5% in the 3rd quarter. Franklin Resources Inc. now owns 31,621 shares of the business services provider’s stock valued at $537,000 after buying an additional 12,157 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in MARA by 4.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,650 shares of the business services provider’s stock valued at $1,292,000 after buying an additional 3,200 shares during the period. Geode Capital Management LLC boosted its holdings in MARA by 5.6% during the third quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock worth $116,115,000 after buying an additional 378,542 shares during the last quarter. M&T Bank Corp boosted its holdings in MARA by 14.1% during the third quarter. M&T Bank Corp now owns 19,571 shares of the business services provider’s stock worth $317,000 after buying an additional 2,418 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of MARA during the 3rd quarter worth about $1,072,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

About MARA

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.