HC Wainwright Analysts Reduce Earnings Estimates for MARA

MARA Holdings, Inc. (NASDAQ:MARA) – Research analysts at HC Wainwright reduced their Q4 2024 earnings estimates for shares of MARA in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst K. Dede now expects that the business services provider will earn ($0.54) per share for the quarter, down from their previous forecast of ($0.51). HC Wainwright has a “Buy” rating and a $28.00 price target on the stock. The consensus estimate for MARA’s current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for MARA’s FY2025 earnings at ($1.55) EPS.

MARA (NASDAQ:MARA) last announced its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.04). The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. MARA had a negative return on equity of 8.40% and a net margin of 27.48%. MARA’s quarterly revenue was up 34.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS.

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

MARA Stock Up 1.3 %

MARA stock opened at $21.07 on Friday. The stock has a 50 day moving average of $17.38 and a two-hundred day moving average of $18.60. MARA has a twelve month low of $9.21 and a twelve month high of $34.09. The stock has a market capitalization of $6.78 billion, a price-to-earnings ratio of 26.67 and a beta of 5.52. The company has a current ratio of 4.00, a quick ratio of 3.75 and a debt-to-equity ratio of 0.22.

Insider Activity

In other news, CEO Frederick G. Thiel sold 27,505 shares of MARA stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the transaction, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the sale, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,417 shares of company stock worth $1,524,546 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MARA

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position 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 valued at $64,249,000 after acquiring an additional 2,340,472 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in MARA by 186.6% in the 2nd 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 purchasing an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MARA by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of MARA during the second quarter worth about $11,920,000. Finally, Vanguard Group Inc. raised its position 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 valued at $540,002,000 after buying an additional 441,455 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

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.