MNTN (NYSE:MNTN – Get Free Report) was downgraded by analysts at Citizens Jmp from a “market outperform” rating to a “market perform” rating in a research note issued on Thursday, MarketBeat.com reports.
Several other equities research analysts have also recently commented on MNTN. Citigroup cut MNTN from a “neutral” rating to a “market perform” rating in a research note on Thursday. Tigress Financial reduced their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. Freedom Broker began coverage on shares of MNTN in a research report on Tuesday. They issued a “buy” rating and a $16.50 price objective for the company. Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen upgraded shares of MNTN from a “hold” rating to a “buy” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.20.
View Our Latest Report on MNTN
MNTN Stock Performance
NYSE MNTN opened at $5.15 on Thursday. The firm has a market cap of $318.63 million, a PE ratio of 7.55 and a beta of 1.17. MNTN has a one year low of $5.46 and a one year high of $14.89. The firm’s fifty day moving average is $10.87 and its two-hundred day moving average is $9.97.
MNTN (NYSE:MNTN – Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). The business had revenue of $80.25 million during the quarter, compared to analyst estimates of $87.77 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Research analysts predict that MNTN will post 0.87 earnings per share for the current year.
Insider Buying and Selling at MNTN
In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the sale, the insider owned 6,375,543 shares in the company, valued at $81,288,173.25. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 335,555 shares of company stock valued at $4,266,038. Corporate insiders own 19.60% of the company’s stock.
Institutional Investors Weigh In On MNTN
A number of institutional investors and hedge funds have recently modified their holdings of MNTN. Alps Advisors Inc. purchased a new stake in shares of MNTN in the 3rd quarter worth about $493,000. One Way Holdings LLC purchased a new stake in shares of MNTN in the 3rd quarter worth about $1,122,000. State of Alaska Department of Revenue purchased a new stake in shares of MNTN in the 3rd quarter worth about $26,000. Pacer Advisors Inc. purchased a new stake in shares of MNTN in the 1st quarter worth about $771,000. Finally, Zazove Associates LLC boosted its position in shares of MNTN by 18.7% in the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after buying an additional 23,721 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.
Key Headlines Impacting MNTN
Here are the key news stories impacting MNTN this week:
- Positive Sentiment: Third-quarter revenue increased 14.6% year over year, and EPS rose to $0.10 from $0.08 a year earlier. However, both revenue and earnings missed analysts’ estimates. MNTN Q3 earnings results
- Negative Sentiment: MNTN reported $0.10 per share versus a consensus estimate of $0.20, while revenue of $80.25 million came in below expectations of $87.77 million. The earnings and sales misses raise concerns about execution and near-term growth. MNTN Q3 earnings and revenues lag estimates
- Negative Sentiment: Management’s go-to-market issues prompted a guidance cut, adding to concerns beyond the quarterly miss. MNTN guidance cut
- Negative Sentiment: Raymond James and Citizens JMP both downgraded MNTN to Market Perform from more favorable ratings, signaling reduced conviction in the stock’s near-term upside. Raymond James downgrade
MNTN Company Profile
MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.
The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.
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