Wall Street Zen cut shares of MNTN (NYSE:MNTN – Free Report) from a buy rating to a hold rating in a research report report published on Sunday,Wall Street Zen reports.
A number of other brokerages have also weighed in on MNTN. Evercore set a $22.00 target price on MNTN in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Citigroup decreased their price objective on shares of MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Morgan Stanley set a $16.00 price objective on shares of MNTN in a research report on Monday, August 10th. Finally, Tigress Financial reduced their target price on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.65.
View Our Latest Report on MNTN
MNTN Price Performance
MNTN (NYSE:MNTN – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The business had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same period in the prior year, the business earned ($0.65) earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts anticipate that MNTN will post 0.87 EPS for the current fiscal year.
Insider Transactions at MNTN
In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $12.75, for a total value of $3,507,716.25. Following the transaction, the insider directly owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 335,555 shares of company stock valued at $4,266,038 over the last quarter. 19.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new stake in shares of MNTN during the first quarter worth $771,000. Zazove Associates LLC grew its position in shares of MNTN by 18.7% during 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 during the period. Militia Capital Management LLC acquired a new position in shares of MNTN during the 1st quarter worth about $2,362,000. Renaissance Technologies LLC increased its stake in shares of MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after acquiring an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of MNTN in the 1st quarter valued at approximately $162,000. 72.90% of the stock is currently owned by institutional investors.
MNTN Company Profile
MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.
MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.
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