MNTN (NYSE:MNTN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of MNTN (NYSE:MNTN) from a hold rating to a buy rating in a research note published on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Citigroup reduced their price target on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Morgan Stanley set a $16.00 target price on shares of MNTN in a report on Monday, August 10th. Weiss Ratings raised shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Evercore set a $22.00 price target on shares of MNTN in a research note on Wednesday, August 5th. Finally, Tigress Financial dropped their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.65.

MNTN Stock Performance

MNTN stock opened at $11.79 on Friday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $20.86. The stock’s 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $9.93. The stock has a market cap of $729.56 million, a price-to-earnings ratio of 16.60 and a beta of 0.94.

MNTN (NYSE:MNTN) last announced 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). The firm had revenue of $82.54 million during the quarter, compared to the consensus estimate of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.The firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.65) EPS. On average, analysts predict that MNTN will post 0.87 earnings per share for the current year.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction 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 directly owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 335,555 shares of company stock worth $4,266,038 in the last three months. 19.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MNTN

Several large investors have recently modified their holdings of the stock. Mercato Management Legacy LLC bought a new position in MNTN in the 1st quarter valued at approximately $54,279,000. Pacer Advisors Inc. bought a new stake in shares of MNTN in the 1st quarter worth $771,000. Militia Capital Management LLC purchased a new position in shares of MNTN in the first quarter worth $2,284,000. Manchester Financial Inc. bought a new position in shares of MNTN during the fourth quarter valued at $2,388,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of MNTN by 40.7% during the first 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 in the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

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.