Raymond James Financial Inc. Buys Shares of 83,948 MARA Holdings, Inc. (NASDAQ:MARA)

Raymond James Financial Inc. purchased a new stake in MARA Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, Holdings Channel reports. The fund purchased 83,948 shares of the business services provider’s stock, valued at approximately $1,408,000.

Several other large investors have also modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of MARA by 51.6% in the fourth quarter. Van ECK Associates Corp now owns 1,676,840 shares of the business services provider’s stock worth $28,120,000 after acquiring an additional 570,803 shares during the last quarter. Principal Financial Group Inc. increased its position in MARA by 37.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,911,816 shares of the business services provider’s stock worth $32,061,000 after purchasing an additional 519,900 shares in the last quarter. Geode Capital Management LLC raised its stake in MARA by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,157,491 shares of the business services provider’s stock valued at $116,115,000 after purchasing an additional 378,542 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in MARA by 14.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,028,457 shares of the business services provider’s stock valued at $50,787,000 after purchasing an additional 372,094 shares during the last quarter. Finally, Matauro LLC purchased a new position in MARA in the 4th quarter valued at about $3,676,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

MARA Trading Up 3.0 %

Shares of MARA opened at $11.84 on Wednesday. MARA Holdings, Inc. has a twelve month low of $11.05 and a twelve month high of $30.28. The firm has a market capitalization of $4.09 billion, a P/E ratio of 14.99 and a beta of 5.95. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $15.20 and its 200 day simple moving average is $18.01.

MARA (NASDAQ:MARA) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $1.56. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. The company had revenue of $214.39 million for the quarter, compared to the consensus estimate of $187.11 million. On average, equities research analysts forecast that MARA Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Activity at MARA

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.68, for a total transaction of $458,783.40. Following the completion of the sale, the chief executive officer now directly owns 3,910,843 shares of the company’s stock, valued at approximately $65,232,861.24. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 owns 1,773,788 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 72,710 shares of company stock worth $1,226,825. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MARA. Rosenblatt Securities started coverage on shares of MARA in a report on Friday, March 7th. They set a “buy” rating and a $19.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of MARA in a research note on Thursday, February 27th. Barclays cut their price target on MARA from $27.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. B. Riley raised their price objective on MARA from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price objective on MARA from $23.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.80.

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.