Algert Global LLC Trims Stock Holdings in MARA Holdings, Inc. (NASDAQ:MARA)

Algert Global LLC lowered its holdings in shares of MARA Holdings, Inc. (NASDAQ:MARA) by 25.2% in the third quarter, Holdings Channel.com reports. The fund owned 35,910 shares of the business services provider’s stock after selling 12,089 shares during the quarter. Algert Global LLC’s holdings in MARA were worth $582,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of MARA by 261.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock worth $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of MARA by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MARA by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after purchasing an additional 1,324,625 shares during the period. Public Sector Pension Investment Board bought a new position in MARA in the second quarter worth approximately $11,920,000. Finally, Rhumbline Advisers increased its holdings in MARA by 126.5% during the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock worth $15,615,000 after purchasing an additional 439,309 shares during the period. Institutional investors own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

MARA has been the topic of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research report on Wednesday, November 13th. JPMorgan Chase & Co. cut their target price on shares of MARA from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Macquarie upped their price target on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of MARA in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald began coverage on MARA in a report on Thursday, October 10th. They set an “overweight” rating and a $21.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MARA presently has a consensus rating of “Hold” and an average target price of $23.33.

MARA Stock Up 1.9 %

Shares of MARA stock opened at $27.42 on Friday. The stock’s fifty day moving average price is $19.12 and its 200 day moving average price is $19.01. MARA Holdings, Inc. has a 1-year low of $11.91 and a 1-year high of $34.09. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 34.71 and a beta of 5.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.00 and a quick ratio of 4.00.

MARA (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). The business had revenue of $131.60 million for the quarter, compared to analysts’ expectations of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. MARA’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, research analysts expect that MARA Holdings, Inc. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at MARA

In related news, Director Jay P. Leupp sold 11,200 shares of MARA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $27.06, for a total transaction of $303,072.00. Following the completion of the sale, the director now owns 142,556 shares of the company’s stock, valued at $3,857,565.36. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,822 shares of company stock worth $2,702,877. 0.97% of the stock is owned by corporate insiders.

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.