MARA’s (MARA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of MARA (NASDAQ:MARA) in a research note released on Wednesday morning,Benzinga reports. They currently have a $28.00 target price on the business services provider’s stock. HC Wainwright also issued estimates for MARA’s Q4 2024 earnings at ($0.54) EPS and FY2025 earnings at ($1.55) EPS.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald assumed coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Macquarie assumed coverage on MARA in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.57.

MARA Stock Performance

MARA stock traded up $0.28 on Wednesday, hitting $21.07. The company’s stock had a trading volume of 42,768,842 shares, compared to its average volume of 54,079,977. The firm has a market cap of $6.78 billion, a P/E ratio of 26.67 and a beta of 5.52. The company has a quick ratio of 3.75, a current ratio of 4.00 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $17.38 and a 200-day moving average price of $18.58. MARA has a one year low of $9.21 and a one year high of $34.09.

MARA (NASDAQ:MARA) last issued its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. On average, equities analysts anticipate that MARA will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total value of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at approximately $36,351,560. This represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total value of $481,337.50. Following the completion of the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at approximately $74,389,070. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 91,417 shares of company stock valued at $1,524,546. 0.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MARA

Several hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its position in MARA by 5.4% during the 1st quarter. Swiss National Bank now owns 439,600 shares of the business services provider’s stock worth $9,926,000 after buying an additional 22,600 shares during the period. ProShare Advisors LLC lifted its stake in shares of MARA by 13.3% in the first quarter. ProShare Advisors LLC now owns 41,626 shares of the business services provider’s stock worth $940,000 after acquiring an additional 4,873 shares during the period. Vanguard Group Inc. lifted its stake in shares of MARA by 1.9% in the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after acquiring an additional 441,455 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of MARA by 4.1% in the first quarter. Ameritas Investment Partners Inc. now owns 22,359 shares of the business services provider’s stock worth $505,000 after acquiring an additional 881 shares during the period. Finally, American International Group Inc. increased its holdings in MARA by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.