MNTN (NYSE:MNTN) Coverage Initiated by Analysts at Freedom Broker

Stock analysts at Freedom Broker began coverage on shares of MNTN (NYSE:MNTN) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $16.50 price target on the stock. Freedom Broker‘s price target points to a potential upside of 75.64% from the stock’s previous close.

MNTN has been the topic of several other research reports. Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Tigress Financial reduced their target price on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 13th. Citigroup decreased their target price on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Morgan Stanley set a $16.00 price target on MNTN in a research note on Monday, August 10th. Finally, Wall Street Zen raised MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.45.

MNTN Trading Up 0.5%

Shares of MNTN stock opened at $9.39 on Tuesday. The firm has a market capitalization of $581.39 million, a P/E ratio of 13.26 and a beta of 1.15. MNTN has a 1 year low of $7.67 and a 1 year high of $16.91. The firm’s fifty day simple moving average is $10.99 and its 200 day simple moving average is $9.98.

MNTN (NYSE:MNTN) last issued its quarterly earnings results 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). The company had revenue of $82.54 million during the quarter, compared to the consensus estimate of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. MNTN’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the company earned ($0.65) earnings per share. Equities research analysts anticipate that MNTN will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the transaction, the insider directly owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 335,555 shares of company stock valued at $4,266,038. Company insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On MNTN

Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. acquired a new position in MNTN during the 3rd quarter valued at about $493,000. One Way Holdings LLC bought a new position in MNTN during the 3rd quarter worth about $1,122,000. State of Alaska Department of Revenue acquired a new stake in shares of MNTN in the third quarter valued at approximately $26,000. Pacer Advisors Inc. acquired a new stake in MNTN in the 1st quarter valued at $771,000. Finally, Zazove Associates LLC raised its holdings 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 acquiring an additional 23,721 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Company Profile

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.