EverSource Wealth Advisors LLC Sells 45,788 Shares of MARA Holdings, Inc. (NASDAQ:MARA)

EverSource Wealth Advisors LLC cut its holdings in shares of MARA Holdings, Inc. (NASDAQ:MARA) by 25.8% during the third quarter, Holdings Channel.com reports. The firm owned 131,719 shares of the business services provider’s stock after selling 45,788 shares during the period. EverSource Wealth Advisors LLC’s holdings in MARA were worth $2,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings 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 buying an additional 441,455 shares during the last quarter. Ameritas Investment Partners Inc. grew its position 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 valued at $505,000 after purchasing an additional 881 shares during the period. American International Group Inc. grew its position in shares of MARA by 4.3% in the first quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 4,593 shares during the period. Natixis acquired a new stake in shares of MARA in the first quarter valued at about $177,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MARA in the first quarter worth about $249,000. 44.53% of the stock is currently owned by institutional investors.

MARA Stock Performance

NASDAQ:MARA opened at $22.63 on Thursday. The stock has a market cap of $7.28 billion, a PE ratio of 28.65 and a beta of 5.52. MARA Holdings, Inc. has a fifty-two week low of $9.88 and a fifty-two week high of $34.09. The firm’s fifty day simple moving average is $17.66 and its 200-day simple moving average is $18.67. 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 issued its quarterly earnings data on Tuesday, November 12th. The business services provider reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.04). MARA had a net margin of 27.48% and a negative return on equity of 8.40%. The business had revenue of $131.60 million during the quarter, compared to analyst estimates of $140.26 million. During the same period in the previous year, the company posted ($0.05) earnings per share. MARA’s revenue was up 34.4% on a year-over-year basis. Analysts expect that MARA Holdings, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of MARA in a research note on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price objective on shares of MARA from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. Macquarie boosted their price target on shares of MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday. Cantor Fitzgerald started coverage on shares of MARA in a research report on Thursday, October 10th. They set an “overweight” rating and a $21.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of MARA in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.57.

Insiders Place Their Bets

In other MARA news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the completion of the sale, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold 135,622 shares of company stock valued at $2,399,805 in the last ninety days. Insiders own 0.97% 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.