Short Interest in MNTN Inc. (NYSE:MNTN) Drops By 46.7%

MNTN Inc. (NYSE:MNTN) was the target of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 2,009,073 shares, a decline of 46.7% from the January 29th total of 3,768,881 shares. Based on an average trading volume of 2,088,776 shares, the days-to-cover ratio is presently 1.0 days. Approximately 4.5% of the company’s shares are sold short. Approximately 4.5% of the company’s shares are sold short. Based on an average trading volume of 2,088,776 shares, the days-to-cover ratio is presently 1.0 days.

MNTN Price Performance

Shares of NYSE:MNTN opened at $9.74 on Monday. The stock has a market capitalization of $719.72 million and a P/E ratio of -6.29. The business has a 50-day moving average of $10.59 and a two-hundred day moving average of $14.59. MNTN has a fifty-two week low of $7.71 and a fifty-two week high of $32.49.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. The business had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The firm’s revenue was up 24.8% compared to the same quarter last year.

Insider Activity at MNTN

In related news, Director Hadi Partovi sold 86,665 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of MNTN

Large investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in MNTN in the 4th quarter worth $43,000. Los Angeles Capital Management LLC bought a new position in shares of MNTN in the fourth quarter worth about $53,000. KLP Kapitalforvaltning AS acquired a new position in shares of MNTN during the 3rd quarter worth about $54,000. Royal Bank of Canada boosted its stake in MNTN by 2,093.6% during the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after purchasing an additional 5,590 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in MNTN in the 3rd quarter valued at approximately $86,000. 72.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MNTN. Citigroup dropped their price objective on shares of MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Zacks Research lowered MNTN from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Tigress Financial restated a “strong-buy” rating and issued a $36.00 target price on shares of MNTN in a research note on Friday, November 7th. Susquehanna cut their price target on MNTN from $38.00 to $20.00 and set a “positive” rating for the company in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.45.

MNTN Company Profile

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.