70,000 Shares in MARA Holdings, Inc. (NASDAQ:MARA) Acquired by Bank of Nova Scotia

Bank of Nova Scotia bought a new stake in shares of MARA Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 70,000 shares of the business services provider’s stock, valued at approximately $1,170,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MARA. Legal & General Group Plc boosted its position in MARA by 6.9% during the fourth quarter. Legal & General Group Plc now owns 932,581 shares of the business services provider’s stock valued at $15,639,000 after purchasing an additional 60,528 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of MARA in the 4th quarter valued at about $364,000. Sepio Capital LP purchased a new position in shares of MARA in the 4th quarter worth approximately $170,000. Quadrant Capital Group LLC raised its stake in shares of MARA by 117.9% during the 4th quarter. Quadrant Capital Group LLC now owns 6,569 shares of the business services provider’s stock worth $110,000 after acquiring an additional 3,554 shares in the last quarter. Finally, Hel Ved Capital Management Ltd purchased a new stake in MARA during the fourth quarter valued at approximately $3,724,000. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total value of $458,783.40. Following the transaction, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at approximately $65,232,861.24. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of MARA stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $15.31, for a total value of $255,677.00. Following the completion of the sale, the chief financial officer now directly owns 1,773,788 shares in the company, valued at $27,156,694.28. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,710 shares of company stock valued at $1,209,825 over the last ninety days. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MARA. B. Riley lifted their price target on shares of MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays reduced their target price on MARA from $27.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Rosenblatt Securities began coverage on MARA in a report on Friday, March 7th. They issued a “buy” rating and a $19.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MARA in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.80.

MARA Stock Performance

Shares of NASDAQ MARA opened at $12.51 on Monday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 15.84 and a beta of 6.10. MARA Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The company has a 50 day simple moving average of $13.77 and a two-hundred day simple moving average of $17.69. 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) last posted its earnings results on Wednesday, February 26th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $1.56. The company had revenue of $214.39 million during the quarter, compared to the consensus estimate of $187.11 million. MARA had a net margin of 27.48% and a negative return on equity of 8.40%. As a group, analysts predict that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

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.