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

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

Several other institutional investors have also modified their holdings of MARA. CI Investments Inc. boosted its holdings in MARA by 7.6% in the first quarter. CI Investments Inc. now owns 13,520 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 957 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in MARA by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the last quarter. Evexia Wealth LLC increased its stake in MARA by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,090 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of MARA by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,340 shares during the period. Finally, Sigma Planning Corp raised its holdings in shares of MARA by 12.5% in the 1st quarter. Sigma Planning Corp now owns 13,409 shares of the business services provider’s stock worth $109,000 after purchasing an additional 1,485 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling

In other MARA news, Director Douglas Mellinger sold 7,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director owned 231,618 shares of the company’s stock, valued at $3,705,888. This trade represents a 2.93% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick Thiel sold 27,505 shares of MARA stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares in the company, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 109,386 shares of company stock worth $1,332,889 in the last 90 days. 0.97% of the stock is owned by insiders.

MARA Price Performance

Shares of NASDAQ MARA opened at $11.31 on Tuesday. MARA Holdings has a 1-year low of $6.66 and a 1-year high of $23.45. The business has a 50-day moving average of $11.34 and a 200-day moving average of $11.26. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of -1.23 and a beta of 5.32.

MARA (NASDAQ:MARA) last announced its earnings results on Thursday, August 6th. The business services provider reported ($1.60) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.77). The company had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. MARA had a negative net margin of 429.71% and a negative return on equity of 26.05%. The business’s quarterly revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.84 earnings per share. On average, equities analysts anticipate that MARA Holdings will post -1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of MARA in a report on Monday, June 1st. Weiss Ratings upgraded shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, August 21st. Morgan Stanley lifted their price target on shares of MARA from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday, August 13th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of MARA in a research note on Friday, August 7th. Finally, Cantor Fitzgerald dropped their price objective on shares of MARA from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

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.