MNTN (NYSE:MNTN) Raised to Buy at Wall Street Zen

MNTN (NYSE:MNTN) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Monday, Wall Street Zen reports.

MNTN has been the topic of several other research reports. Evercore set a $22.00 price objective on shares of MNTN in a report on Wednesday, August 5th. Citigroup reduced their target price on MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Tigress Financial decreased their target price on MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. Morgan Stanley set a $16.00 price target on MNTN in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MNTN has a consensus rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Up 1.9%

Shares of MNTN stock opened at $10.39 on Monday. The firm has a 50 day moving average of $11.44 and a 200-day moving average of $10.02. The company has a market cap of $642.88 million, a price-to-earnings ratio of 14.63 and a beta of 0.94. MNTN has a 52 week low of $7.67 and a 52 week high of $18.81.

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

Insider Transactions at MNTN

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 335,555 shares of company stock worth $4,266,038 in the last ninety days. Corporate insiders own 19.60% of the company’s stock.

Institutional Trading of MNTN

Several institutional investors have recently made changes to their positions in the company. Mercato Management Legacy LLC bought a new stake in MNTN in the 1st quarter worth about $54,279,000. Renaissance Technologies LLC lifted its position 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 in the last quarter. Militia Capital Management LLC purchased a new position in shares of MNTN in the 1st quarter worth approximately $2,362,000. Manchester Financial Inc. bought a new position in shares of MNTN in the fourth quarter valued at approximately $2,388,000. Finally, S Squared Technology LLC grew its holdings in shares of MNTN by 14.7% in the fourth quarter. S Squared Technology LLC now owns 155,600 shares of the company’s stock valued at $1,858,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors own 72.90% of the company’s stock.

About MNTN

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.