Headlands Technologies LLC Boosts Stake in MARA Holdings $MARA

Headlands Technologies LLC raised its stake in shares of MARA Holdings (NASDAQ:MARA) by 51.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 444,756 shares of the business services provider’s stock after buying an additional 150,665 shares during the quarter. MARA comprises about 0.7% of Headlands Technologies LLC’s investment portfolio, making the stock its 28th biggest position. Headlands Technologies LLC’s holdings in MARA were worth $6,178,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Greenleaf Trust raised its holdings in shares of MARA by 9.9% in the second quarter. Greenleaf Trust now owns 11,915 shares of the business services provider’s stock worth $165,000 after acquiring an additional 1,076 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of MARA by 24.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 50,275 shares of the business services provider’s stock valued at $698,000 after acquiring an additional 9,873 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of MARA by 20.0% during the second quarter. GAMMA Investing LLC now owns 25,506 shares of the business services provider’s stock valued at $354,000 after acquiring an additional 4,246 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of MARA during the second quarter valued at $1,858,000. Finally, CoreCap Advisors LLC increased its position in MARA by 128.0% during the 2nd quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock worth $51,000 after purchasing an additional 2,050 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

MARA Price Performance

Shares of NASDAQ:MARA opened at $10.67 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. MARA Holdings has a 1 year low of $6.66 and a 1 year high of $23.45. The stock has a market capitalization of $4.12 billion, a P/E ratio of -1.16 and a beta of 5.40. The stock has a 50-day simple moving average of $11.75 and a 200-day simple moving average of $11.12.

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

Insider Buying and Selling at MARA

In other news, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $9.21, for a total value of $147,360.00. Following the completion of the sale, the chief financial officer owned 377,066 shares of the company’s stock, valued at $3,472,777.86. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 8,376 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $12.00, for a total transaction of $100,512.00. Following the completion of the transaction, the general counsel directly owned 898,780 shares in the company, valued at approximately $10,785,360. This represents a 0.92% 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. Insiders have sold 109,386 shares of company stock valued at $1,332,889 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Analysts Set New Price Targets

MARA has been the subject of several analyst reports. Weiss Ratings raised shares of MARA from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 21st. Morgan Stanley lifted their price target on shares of MARA from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, August 13th. Citizens Jmp began coverage on shares of MARA in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of MARA in a research report on Friday, August 7th. Finally, Piper Sandler reduced their price objective on shares of MARA from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.78.

MARA 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.