MNTN Inc. (NYSE:MNTN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

MNTN Inc. (NYSE:MNTN) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.50.

A number of equities analysts have recently commented on MNTN shares. Needham & Company LLC dropped their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Cowen raised shares of MNTN to a “buy” rating in a research report on Thursday, December 4th. Citizens Jmp lowered their price target on MNTN from $33.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 5th. Morgan Stanley set a $22.50 price objective on MNTN in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised MNTN from a “hold” rating to a “buy” rating in a report on Saturday, November 8th.

Insider Buying and Selling at MNTN

In other news, Director Hadi Partovi sold 86,665 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 447,520 shares of company stock valued at $6,005,775 over the last three months. 60.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MNTN

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of MNTN by 67.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock worth $99,155,000 after buying an additional 2,159,075 shares in the last quarter. Federated Hermes Inc. grew its position in MNTN by 23.8% in the third quarter. Federated Hermes Inc. now owns 650,000 shares of the company’s stock valued at $12,058,000 after acquiring an additional 125,000 shares during the period. Vanguard Group Inc. raised its stake in MNTN by 787.7% during the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock worth $11,527,000 after acquiring an additional 551,392 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in shares of MNTN during the second quarter valued at $6,996,000. Finally, Captrust Financial Advisors bought a new stake in shares of MNTN in the 3rd quarter worth about $5,205,000. 72.90% of the stock is owned by institutional investors.

MNTN Stock Performance

Shares of MNTN opened at $11.93 on Friday. The company’s fifty day moving average is $13.56 and its 200-day moving average is $18.68. MNTN has a 12 month low of $11.46 and a 12 month high of $32.49.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $70.00 million during the quarter, compared to analyst estimates of $70.11 million. MNTN had a negative net margin of 16.47% and a negative return on equity of 30.86%. The business’s revenue was up 22.6% on a year-over-year basis.

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.