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

MARA Holdings, Inc. (NASDAQ:MARA) Director Douglas K. Mellinger sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $16.00, for a total value of $16,000.00. Following the completion of the sale, the director now directly owns 175,859 shares in the company, valued at $2,813,744. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MARA Price Performance

MARA stock opened at $16.35 on Thursday. The firm has a 50 day moving average price of $14.23 and a 200-day moving average price of $16.57. MARA Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 20.70 and a beta of 6.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.00 and a current ratio of 4.00.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.06). MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The firm had revenue of $213.88 million during the quarter, compared to analysts’ expectations of $234.19 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. MARA’s revenue was up 29.5% on a year-over-year basis. Equities research analysts forecast that MARA Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On MARA

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in MARA by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider’s stock worth $10,549,000 after acquiring an additional 83,242 shares during the last quarter. Strs Ohio purchased a new position in MARA in the 1st quarter worth approximately $363,000. Intech Investment Management LLC raised its holdings in MARA by 14.5% in the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock worth $1,848,000 after acquiring an additional 20,413 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MARA by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock worth $7,398,000 after acquiring an additional 63,903 shares during the last quarter. Finally, United Services Automobile Association grew its position in MARA by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after purchasing an additional 1,569 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MARA. Piper Sandler cut their target price on MARA from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of MARA in a report on Thursday, April 24th. Barclays raised their price objective on shares of MARA from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Needham & Company LLC restated a “hold” rating on shares of MARA in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.83.

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.