MNTN Inc. (NYSE:MNTN) Receives $18.65 Consensus PT from Analysts

MNTN Inc. (NYSE:MNTN) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.65.

MNTN has been the subject of a number of analyst reports. Evercore set a $22.00 price target on shares of MNTN in a research report on Wednesday, August 5th. Tigress Financial lowered their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a report on Wednesday, May 6th. Citigroup cut their target price on MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Finally, Citizens Jmp reduced their target price on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th.

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 dated 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 $81,288,173.25. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 335,555 shares of company stock worth $4,266,038 in the last 90 days. Corporate insiders own 19.60% of the company’s stock.

Institutional Trading of MNTN

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in MNTN in the first quarter valued at approximately $771,000. Zazove Associates LLC lifted its stake in MNTN by 18.7% during the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after purchasing an additional 23,721 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of MNTN in the 1st quarter valued at $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 purchasing an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of MNTN in the 1st quarter valued at $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Stock Performance

NYSE:MNTN opened at $12.87 on Friday. MNTN has a 52 week low of $7.67 and a 52 week high of $23.25. The firm’s 50-day simple moving average is $10.13 and its 200 day simple moving average is $9.59. The firm has a market cap of $796.52 million, a price-to-earnings ratio of 18.13 and a beta of 0.71.

MNTN (NYSE:MNTN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $82.34 million. During the same period in the prior year, the firm earned ($0.65) EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts anticipate that MNTN will post 0.87 EPS for the current year.

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.