UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in MARA Holdings $MARA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in MARA Holdings (NASDAQ:MARA) by 9.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 619,821 shares of the business services provider’s stock after selling 65,923 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of MARA worth $8,609,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in MARA in the third quarter valued at $55,000. Ascentis Independent Advisors acquired a new stake in shares of MARA during the first quarter worth about $28,000. CoreCap Advisors LLC boosted its stake in shares of MARA by 128.0% during the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after buying an additional 2,050 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of MARA during the fourth quarter worth about $36,000. Finally, Bogart Wealth LLC grew its holdings in shares of MARA by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after buying an additional 3,954 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

MARA Stock Performance

Shares of MARA stock opened at $11.31 on Tuesday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of -1.23 and a beta of 5.32. MARA Holdings has a 52-week low of $6.66 and a 52-week high of $23.45. The company’s 50-day simple moving average is $11.34 and its 200-day simple moving average is $11.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15.

MARA (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.77). MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm had revenue of $174.88 million during the quarter, compared to analyst estimates of $209.44 million. During the same quarter in the previous year, the business earned $1.84 EPS. MARA’s revenue for the quarter was down 26.7% on a year-over-year basis. As a group, equities research analysts anticipate that MARA Holdings will post -1.24 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MARA. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of MARA in a research report on Friday, August 7th. Morgan Stanley lifted their target price on MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of MARA in a report on Monday, June 1st. Piper Sandler dropped their target price on MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Finally, Citizens Jmp started coverage on MARA in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.78.

Insiders Place Their Bets

In related news, General Counsel Zabi Nowaid sold 8,376 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $12.00, for a total transaction of $100,512.00. Following the transaction, the general counsel owned 898,780 shares of the company’s stock, valued at $10,785,360. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the transaction, the director owned 231,618 shares of the company’s stock, valued at $3,705,888. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 109,386 shares of company stock valued at $1,332,889. Corporate insiders own 0.97% of the company’s stock.

MARA Company Profile

MARA Holdings, Inc is an energy and digital infrastructure company whose core business is Bitcoin mining. Headquartered in Hallandale Beach, Florida, the company operates large-scale computing infrastructure designed to convert energy into high-value compute workloads.