MNTN (NYSE:MNTN) Major Shareholder Sells $3,507,716.25 in Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 275,115 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the sale, the insider owned 6,375,543 shares of the company’s stock, valued at $81,288,173.25. This trade represents a 4.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The shares were sold at an average price of $12.56, for a total value of $422,229.52.
• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The shares were sold at an average price of $12.53, for a total transaction of $336,092.19.

MNTN Trading Down 1.9%

Shares of NYSE:MNTN traded down $0.24 during midday trading on Thursday, hitting $12.58. The stock had a trading volume of 896,493 shares, compared to its average volume of 984,040. MNTN Inc. has a 1 year low of $7.67 and a 1 year high of $23.25. The stock has a 50 day moving average price of $9.96 and a two-hundred day moving average price of $9.54. The company has a market capitalization of $778.58 million, a PE ratio of 17.72 and a beta of 0.71.

MNTN (NYSE:MNTN) last released its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). MNTN had a return on equity of 18.85% and a net margin of 18.00%.The business had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same quarter in the previous year, the firm posted ($0.65) EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities analysts expect that MNTN Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

MNTN has been the topic of several research reports. Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research note on Wednesday, May 6th. Citigroup lowered their price target on MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Citizens Jmp dropped their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of MNTN from a “buy” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.65.

Hedge Funds Weigh In On MNTN

A number of institutional investors have recently made changes to their positions in MNTN. Aster Capital Management DIFC Ltd bought a new stake in shares of MNTN in the fourth quarter worth $43,000. Los Angeles Capital Management LLC acquired a new stake in MNTN during the fourth quarter worth about $53,000. Royal Bank of Canada lifted its holdings in shares of MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in MNTN in the third quarter valued at $86,000. Finally, Barclays PLC lifted its position in MNTN by 2,341.4% in the 4th quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after purchasing an additional 8,944 shares during the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.

About MNTN

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.