MNTN Inc. (NYSE:MNTN) Short Interest Update

MNTN Inc. (NYSE:MNTN) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,622,446 shares, a growth of 116.3% from the May 31st total of 749,966 shares. Based on an average daily volume of 1,150,316 shares, the days-to-cover ratio is currently 1.4 days. Currently, 3.3% of the company’s shares are sold short.

MNTN Price Performance

Shares of MNTN stock opened at $9.03 on Tuesday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $32.00. The stock’s 50-day moving average is $9.01 and its two-hundred day moving average is $9.83. The firm has a market cap of $550.92 million and a P/E ratio of -301.00.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $73.70 million for the quarter, compared to analyst estimates of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.41) earnings per share. As a group, research analysts expect that MNTN will post 0.99 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Tigress Financial reissued a “strong-buy” rating and issued a $26.00 target price on shares of MNTN in a research report on Wednesday, June 3rd. Canaccord Genuity Group decreased their price objective on shares of MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Morgan Stanley decreased their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Finally, Citizens Jmp lowered their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.85.

Hedge Funds Weigh In On MNTN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTN. Mercato Management Legacy LLC acquired a new stake in shares of MNTN in the first quarter worth $54,279,000. Mercato Partners Growth Iii GP LLC acquired a new position in MNTN in the 4th quarter valued at $73,646,000. Wellington Management Group LLP raised its holdings in MNTN by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,730,723 shares of the company’s stock worth $68,425,000 after acquiring an additional 385,421 shares during the period. Bienville Capital Management LLC raised its holdings in MNTN by 49.4% in the 4th quarter. Bienville Capital Management LLC now owns 919,052 shares of the company’s stock worth $10,973,000 after acquiring an additional 303,905 shares during the period. Finally, Federated Hermes Inc. lifted its position in MNTN by 4.6% during the 4th quarter. Federated Hermes Inc. now owns 680,000 shares of the company’s stock worth $8,119,000 after acquiring an additional 30,000 shares during the last quarter. Institutional investors and hedge funds 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.