MNTN (NYSE:MNTN) Major Shareholder Baroda Ventures Llc Sells 33,617 Shares

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 33,617 shares of MNTN stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $12.56, for a total transaction of $422,229.52. Following the transaction, the insider directly 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 Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The stock was sold at an average price of $12.53, for a total transaction of $336,092.19.

MNTN Trading Down 0.6%

Shares of MNTN stock opened at $12.45 on Tuesday. The company has a market cap of $770.57 million, a PE ratio of 17.54 and a beta of 0.71. The company’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $9.50. MNTN Inc. has a 52 week low of $7.67 and a 52 week high of $23.25.

MNTN (NYSE:MNTN) last announced 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). MNTN had a return on equity of 18.85% and a net margin of 18.00%.The business had revenue of $82.54 million for the quarter, compared to analysts’ expectations of $82.34 million. During the same period last year, the company posted ($0.65) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts expect that MNTN Inc. will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MNTN. Soros Fund Management LLC bought a new stake in shares of MNTN during the 2nd quarter valued at about $2,187,000. Raymond James Financial Inc. bought a new position in MNTN in the second quarter worth about $2,111,000. Bamco Inc. NY acquired a new position in MNTN in the second quarter valued at approximately $1,531,000. Balyasny Asset Management L.P. bought a new position in shares of MNTN during the second quarter valued at approximately $3,442,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of MNTN during the 2nd quarter worth approximately $2,183,000. 72.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Citizens Jmp lowered their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. Citigroup reduced their target price on shares of MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Tigress Financial dropped their price target on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

About MNTN

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.