Key Points
- CEO Frederick Thiel sold 27,505 MARA shares at an average price of $11.22, generating approximately $308,606. The transaction was made under a pre-arranged Rule 10b5-1 trading plan and reduced his stake by 0.65%.
- MARA reported weak quarterly results, with a loss of $1.60 per share versus analysts’ expected earnings of $0.17 and revenue of $174.88 million, down 26.7% year over year.
- Analyst sentiment is mixed: MARA has an average “Hold” rating and a $19.20 price target, despite eight Buy ratings. The stock recently opened at $11.23 and has a 12-month range of $6.66 to $23.45.
MARA Holdings (NASDAQ:MARA - Get Free Report) CEO Frederick Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $11.22, for a total transaction of $308,606.10. Following the completion of the sale, the chief executive officer owned 4,217,586 shares of the company's stock, valued at approximately $47,321,314.92. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
MARA Price Performance
Shares of NASDAQ:MARA opened at $11.23 on Friday. The company's fifty day moving average is $11.23 and its two-hundred day moving average is $11.71. The company has a market cap of $4.34 billion, a P/E ratio of -1.23 and a beta of 5.33. MARA Holdings has a 12-month low of $6.66 and a 12-month high of $23.45. 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 issued its earnings results 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). MARA had a negative return on equity of 26.05% and a negative net margin of 429.71%.The business had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same period last year, the business earned $1.84 EPS. The business's quarterly revenue was down 26.7% on a year-over-year basis. Equities analysts expect that MARA Holdings will post -1.65 earnings per share for the current fiscal year.
Institutional Trading of MARA
Hedge funds and other institutional investors have recently modified their holdings of the company. CI Investments Inc. increased its holdings in MARA by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider's stock worth $110,000 after buying an additional 957 shares during the last quarter. Greenleaf Trust lifted its stake in MARA by 9.9% in the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider's stock valued at $165,000 after acquiring an additional 1,076 shares during the last quarter. Evexia Wealth LLC grew its position in MARA by 9.2% in the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider's stock worth $106,000 after acquiring an additional 1,090 shares in the last quarter. Sigma Planning Corp grew its position in MARA by 12.5% in the first quarter. Sigma Planning Corp now owns 13,409 shares of the business services provider's stock worth $109,000 after acquiring an additional 1,485 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of MARA by 14.9% during the 2nd quarter. NewEdge Advisors LLC now owns 12,320 shares of the business services provider's stock worth $171,000 after purchasing an additional 1,598 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Piper Sandler decreased their price objective on MARA from $16.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 target price on shares of MARA in a report on Friday, August 7th. Cantor Fitzgerald reduced their price target on shares of MARA from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Friday, August 7th. Weiss Ratings upgraded shares of MARA from a "sell (d-)" rating to a "sell (d)" rating in a report on Friday, August 21st. Finally, HC Wainwright initiated coverage on shares of MARA in a report on Friday, September 11th. They set a "buy" rating and a $20.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.20.
Check Out Our Latest Stock Analysis on MARA
MARA Company Profile
(
Get Free Report)
MARA Holdings, Inc (NASDAQ: MARA), formerly known as Marathon Digital Holdings, is a digital asset technology company focused primarily on mining bitcoin. The company operates specialized data centers containing application-specific integrated circuit (ASIC) computers that process transactions and secure the Bitcoin network in exchange for bitcoin rewards.
In addition to bitcoin mining, MARA develops and operates digital asset computing infrastructure. Its activities include managing energy and data-center resources, deploying mining hardware, and pursuing technologies designed to improve the efficiency and scalability of digital asset mining.
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