MNTN (NYSE:MNTN) Major Shareholder Baroda Ventures Llc Sells 26,823 Shares of Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 26,823 shares of MNTN stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $12.53, for a total value of $336,092.19. Following the completion of the transaction, the insider owned 6,684,275 shares in the company, valued at approximately $83,753,965.75. The trade was a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The stock was sold at an average price of $12.56, for a total value of $422,229.52.

MNTN Stock Down 0.6%

NYSE:MNTN opened at $12.45 on Tuesday. MNTN Inc. has a twelve month low of $7.67 and a twelve month high of $23.25. The stock’s 50-day simple moving average is $9.80 and its 200 day simple moving average is $9.50. The firm has a market capitalization of $770.57 million, a PE ratio of 17.54 and a beta of 0.71.

MNTN (NYSE:MNTN) last issued its earnings results on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). The business had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) EPS. On average, analysts anticipate that MNTN Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on MNTN. Wall Street Zen downgraded shares of MNTN from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Citizens Jmp dropped their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Evercore set a $22.00 price objective on MNTN in a research report on Wednesday, August 5th. Finally, Raymond James Financial reissued an “outperform” rating and set a $15.00 price target on shares of MNTN in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MNTN has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of MNTN in the 4th quarter valued at about $43,000. Los Angeles Capital Management LLC bought a new position in shares of MNTN during the fourth quarter worth about $53,000. JPMorgan Chase & Co. bought a new position in shares of MNTN during the third quarter worth about $86,000. Cary Street Partners Financial LLC lifted its stake in shares of MNTN by 29.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock worth $243,000 after acquiring an additional 4,640 shares during the period. Finally, Royal Bank of Canada boosted its holdings in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after acquiring an additional 5,590 shares during the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.

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.