MNTN (NYSE:MNTN) Stock Rating Lowered by Wall Street Zen

MNTN (NYSE:MNTN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other research analysts have also recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Tigress Financial dropped their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday. Citizens Jmp cut their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Morgan Stanley set a $16.00 target price on shares of MNTN in a research note on Monday, August 10th. Finally, Evercore set a $22.00 price target on shares of MNTN in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Down 0.6%

MNTN stock opened at $12.45 on Friday. MNTN has a 12-month low of $7.67 and a 12-month high of $23.25. The firm’s fifty day moving average is $9.80 and its 200 day moving average is $9.50. The company has a market capitalization of $770.57 million, a PE ratio of 17.54 and a beta of 0.71.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 EPS 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 company had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. During the same quarter in the previous year, the business posted ($0.65) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts expect that MNTN will post 0.87 EPS for the current fiscal year.

Insider Activity at MNTN

In related news, major shareholder Baroda Ventures Llc sold 33,617 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $12.56, for a total value of $422,229.52. Following the sale, the insider owned 6,650,658 shares in the company, valued at approximately $83,532,264.48. This trade represents a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On MNTN

Institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new position in MNTN in the fourth quarter valued at $43,000. Los Angeles Capital Management LLC bought a new position in shares of MNTN in the fourth quarter worth approximately $53,000. JPMorgan Chase & Co. purchased a new position in shares of MNTN in the third quarter worth $86,000. Cary Street Partners Financial LLC boosted its position in MNTN by 29.5% during the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock valued at $243,000 after buying an additional 4,640 shares during the period. Finally, Royal Bank of Canada grew its holdings in MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after acquiring an additional 5,590 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors.

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.