Van ECK Associates Corp Purchases 570,803 Shares of MARA Holdings, Inc. (NASDAQ:MARA)

Van ECK Associates Corp increased its stake in shares of MARA Holdings, Inc. (NASDAQ:MARA) by 51.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,676,840 shares of the business services provider’s stock after buying an additional 570,803 shares during the period. Van ECK Associates Corp’s holdings in MARA were worth $28,120,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MARA. Private Advisor Group LLC increased its stake in shares of MARA by 27.7% in the third quarter. Private Advisor Group LLC now owns 226,199 shares of the business services provider’s stock worth $3,669,000 after purchasing an additional 49,062 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MARA by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,656,363 shares of the business services provider’s stock worth $43,086,000 after purchasing an additional 217,106 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of MARA by 112.4% in the third quarter. Mutual of America Capital Management LLC now owns 203,975 shares of the business services provider’s stock worth $3,308,000 after purchasing an additional 107,963 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of MARA in the third quarter worth about $640,000. Finally, Weiss Asset Management LP purchased a new position in shares of MARA in the third quarter worth about $1,557,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Price Performance

Shares of NASDAQ:MARA opened at $16.90 on Friday. MARA Holdings, Inc. has a twelve month low of $13.16 and a twelve month high of $34.09. The company’s 50 day moving average is $19.14 and its 200 day moving average is $18.62. 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 cap of $5.74 billion, a PE ratio of 21.39 and a beta of 5.76.

MARA (NASDAQ:MARA) last announced its earnings results on Tuesday, November 12th. The business services provider reported ($0.42) earnings per share (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 for the quarter, compared to analysts’ expectations of $140.26 million. During the same quarter last year, the business earned ($0.05) EPS. The company’s quarterly revenue was up 34.4% on a year-over-year basis. On average, sell-side analysts forecast that MARA Holdings, Inc. will post -1.04 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on MARA shares. Piper Sandler assumed coverage on shares of MARA in a research report on Tuesday, December 17th. They set an “overweight” rating and a $34.00 target price for the company. Barclays assumed coverage on shares of MARA in a report on Monday, November 25th. They set an “equal weight” rating and a $27.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of MARA in a research report on Wednesday, December 4th. Compass Point downgraded shares of MARA from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $25.00 in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised shares of MARA from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $23.00 in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.67.

Insiders Place Their Bets

In other MARA news, Director Jay P. Leupp sold 11,200 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 142,556 shares of the company’s stock, valued at $3,857,565.36. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.80, for a total value of $330,660.00. Following the sale, the chief financial officer now directly owns 2,029,647 shares of the company’s stock, valued at $40,187,010.60. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,915 shares of company stock valued at $2,956,634 in the last three months. 0.80% of the stock is currently owned by insiders.

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.