CX Institutional Takes $68,000 Position in MARA Holdings, Inc. (NASDAQ:MARA)

CX Institutional acquired a new stake in shares of MARA Holdings, Inc. (NASDAQ:MARA) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,949 shares of the business services provider’s stock, valued at approximately $68,000.

Several other large investors have also recently made changes to their positions in the business. United Services Automobile Association increased its stake in shares of MARA by 3.4% during the fourth quarter. United Services Automobile Association now owns 19,065 shares of the business services provider’s stock valued at $320,000 after buying an additional 635 shares during the period. Mackenzie Financial Corp grew its position in MARA by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider’s stock valued at $304,000 after purchasing an additional 878 shares during the last quarter. CoreCap Advisors LLC increased its stake in MARA by 7.3% during the 4th quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider’s stock valued at $244,000 after purchasing an additional 992 shares in the last quarter. NewEdge Advisors LLC raised its holdings in MARA by 28.9% in the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider’s stock worth $78,000 after buying an additional 1,040 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in MARA by 13.2% in the fourth quarter. Baird Financial Group Inc. now owns 10,620 shares of the business services provider’s stock worth $178,000 after buying an additional 1,238 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

MARA Stock Up 1.9%

Shares of MARA opened at $15.32 on Tuesday. The company has a market cap of $5.39 billion, a PE ratio of 19.39 and a beta of 6.61. MARA Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The business has a fifty day moving average of $14.51 and a 200 day moving average of $16.20. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 0.22.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities raised their price target on shares of MARA from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on shares of MARA from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday. Compass Point reissued a “sell” rating and set a $9.50 price target (down previously from $25.00) on shares of MARA in a report on Tuesday, May 6th. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of MARA in a research note on Thursday, April 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of MARA in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.94.

Insiders Place Their Bets

In related news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the transaction, the director now owns 176,859 shares in the company, valued at approximately $2,829,744. This represents a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Salman Hassan Khan sold 34,733 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer now owns 1,413,298 shares of the company’s stock, valued at $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,348 shares of company stock worth $2,633,802 over the last 90 days. Company insiders own 0.80% of the company’s stock.

MARA 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.