MNTN (NYSE:MNTN) Stock Price Target Lowered at Susquehanna

MNTN (NYSE:MNTN) had its price target dropped by stock analysts at Susquehanna from $20.00 to $12.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna‘s price objective suggests a potential upside of 15.34% from the company’s current price.

A number of other analysts have also recently commented on the stock. Tigress Financial cut their price target 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. Morgan Stanley set a $16.00 price objective on shares of MNTN in a research note on Monday, August 10th. Freedom Broker initiated coverage on shares of MNTN in a report on Tuesday. They issued a “buy” rating and a $16.50 target price on the stock. Weiss Ratings raised shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen upgraded shares of MNTN from a “hold” rating to a “buy” rating in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.20.

MNTN Stock Up 6.9%

Shares of MNTN stock opened at $10.40 on Thursday. MNTN has a 12-month low of $7.67 and a 12-month high of $14.98. The stock has a market cap of $643.93 million, a P/E ratio of 14.65 and a beta of 1.17. The business’s 50 day moving average is $10.87 and its 200-day moving average is $9.97.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company had revenue of $80.25 million during the quarter, compared to analyst estimates of $87.77 million. During the same period in the previous year, the company posted $0.08 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts expect that MNTN will post 0.87 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the 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 owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MNTN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNTN. One Way Holdings LLC acquired a new position in shares of MNTN in the third quarter valued at $1,122,000. Militia Capital Management LLC bought a new position in shares of MNTN in the first quarter valued at about $2,362,000. Pacer Advisors Inc. acquired a new stake in shares of MNTN during the 1st quarter worth about $771,000. Mercato Management Legacy LLC acquired a new stake in shares of MNTN during the 1st quarter worth about $54,279,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of MNTN by 40.7% during the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after buying an additional 187,028 shares during the period. 72.90% of the stock is owned by institutional investors.

Key Headlines Impacting MNTN

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Third-quarter revenue increased 14.6% year over year, and EPS rose to $0.10 from $0.08 a year earlier. However, both revenue and earnings missed analysts’ estimates. MNTN Q3 earnings results
• Negative Sentiment: MNTN reported $0.10 per share versus a consensus estimate of $0.20, while revenue of $80.25 million came in below expectations of $87.77 million. The earnings and sales misses raise concerns about execution and near-term growth. MNTN Q3 earnings and revenues lag estimates
• Negative Sentiment: Management’s go-to-market issues prompted a guidance cut, adding to concerns beyond the quarterly miss. MNTN guidance cut
• Negative Sentiment: Raymond James and Citizens JMP both downgraded MNTN to Market Perform from more favorable ratings, signaling reduced conviction in the stock’s near-term upside. Raymond James downgrade

About MNTN

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.