MARA (NASDAQ:MARA) Shares Gap Up Following Earnings Beat

MARA Holdings, Inc. (NASDAQ:MARA) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.45, but opened at $14.21. MARA shares last traded at $13.40, with a volume of 17,832,966 shares traded.

The business services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of ($0.32) by $1.56. The business had revenue of $214.39 million during the quarter, compared to analysts’ expectations of $187.11 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. B. Riley raised 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. Piper Sandler assumed coverage on shares of MARA in a report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Thursday. JPMorgan Chase & Co. raised MARA from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. Finally, Macquarie upped their price target on MARA from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.67.

Insider Buying and Selling at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $23.50, for a total value of $646,367.50. Following the sale, the chief executive officer now owns 4,128,090 shares of the company’s stock, valued at $97,010,115. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $23.50, for a total value of $392,450.00. Following the completion of the sale, the chief financial officer now owns 1,836,129 shares in the company, valued at $43,149,031.50. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,215 shares of company stock valued at $2,033,766. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MARA

Several institutional investors have recently added to or reduced their stakes in MARA. Spire Wealth Management increased its holdings 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 buying an additional 599 shares in the last quarter. United Services Automobile Association grew its position in MARA by 3.4% during the 4th quarter. United Services Automobile Association now owns 19,065 shares of the business services provider’s stock worth $320,000 after acquiring an additional 635 shares during the last quarter. Financial Advocates Investment Management increased its holdings in MARA by 5.2% during the 3rd quarter. Financial Advocates Investment Management now owns 14,201 shares of the business services provider’s stock valued at $230,000 after purchasing an additional 700 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd raised its position in MARA by 79.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,945 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 860 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in MARA by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock worth $304,000 after purchasing an additional 878 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

MARA Stock Up 5.5 %

The company has a market cap of $4.46 billion, a P/E ratio of 16.62 and a beta of 5.76. 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 price of $17.78 and a 200 day moving average price of $18.46.

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.