Centric Wealth Management Purchases New Position in MARA Holdings, Inc. (NASDAQ:MARA)

Centric Wealth Management acquired a new position in shares of MARA Holdings, Inc. (NASDAQ:MARA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,001 shares of the business services provider’s stock, valued at approximately $1,460,000.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of MARA in the 1st quarter worth approximately $249,000. B. Riley Wealth Advisors Inc. bought a new position in MARA in the 1st quarter valued at $312,000. Cetera Investment Advisers acquired a new position in MARA in the first quarter worth $3,696,000. Cetera Advisors LLC grew its holdings in shares of MARA by 606.5% during the first quarter. Cetera Advisors LLC now owns 105,648 shares of the business services provider’s stock worth $2,386,000 after purchasing an additional 90,695 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of MARA in the first quarter valued at $105,000. 44.53% of the stock is owned by institutional investors.

Insider Buying and Selling at MARA

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays started coverage on shares of MARA in a research report on Monday. They set an “equal weight” rating and a $27.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of MARA in a research note on Wednesday, November 13th. Compass Point lowered shares of MARA from a “buy” rating to a “neutral” rating and raised their price target for the company from $21.00 to $25.00 in a report on Thursday, November 21st. Macquarie upped their price objective on MARA from $22.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Finally, Cantor Fitzgerald assumed coverage on MARA in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.33.

MARA Stock Performance

Shares of MARA stock opened at $26.92 on Friday. The stock’s fifty day simple moving average is $18.88 and its 200 day simple moving average is $18.93. 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 company has a market capitalization of $8.66 billion, a PE ratio of 34.08 and a beta of 5.52. MARA Holdings, Inc. has a 12 month low of $11.55 and a 12 month high of $34.09.

MARA (NASDAQ:MARA) last released its quarterly earnings results 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 negative return on equity of 8.40% and a net margin of 27.48%. The business had revenue of $131.60 million for the quarter, compared to analyst estimates of $140.26 million. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, research analysts predict that MARA Holdings, Inc. will post -1.02 EPS for the current year.

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.