MNTN (NYSE:MNTN) Stock Price Up 7.4% – Still a Buy?

Shares of MNTN Inc. (NYSE:MNTN) traded up 7.4% during mid-day trading on Thursday. The company traded as high as $10.00 and last traded at $10.0950. 94,325 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 941,533 shares. The stock had previously closed at $9.40.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MNTN. Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Citigroup cut 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. Evercore set a $22.00 price objective on MNTN in a report on Wednesday, August 5th. Morgan Stanley set a $16.00 price target on shares of MNTN in a report on Monday, August 10th. Finally, Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a research note on Monday, September 28th. One investment 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. Based on data from MarketBeat.com, MNTN has an average rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Down 3.0%

The firm has a market capitalization of $629.73 million, a price-to-earnings ratio of 14.33 and a beta of 1.15. The firm has a 50 day moving average of $11.57 and a two-hundred day moving average of $10.10.

MNTN (NYSE:MNTN) last issued its quarterly earnings data 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 return on equity of 18.85% and a net margin of 18.00%. The firm had revenue of $82.54 million for the quarter, compared to the consensus estimate of $82.34 million. During the same quarter in the prior year, the firm earned ($0.65) EPS. The company’s revenue was up 20.5% on a year-over-year basis. Sell-side analysts forecast that MNTN Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 335,555 shares of company stock valued at $4,266,038 in the last ninety days. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNTN. State of Alaska Department of Revenue bought a new stake in MNTN during the third quarter worth $26,000. Y Intercept Hong Kong Ltd bought a new stake in MNTN during the first quarter valued at approximately $117,000. Chicago Partners Investment Group LLC purchased a new position in shares of MNTN during the 1st quarter valued at about $156,000. Hsbc Holdings PLC increased its holdings in shares of MNTN by 45.4% in the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock worth $161,000 after buying an additional 5,720 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of MNTN in the first quarter valued at about $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Company Profile

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN’s services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.