Susquehanna Cuts MNTN (NYSE:MNTN) Price Target to $20.00

MNTN (NYSE:MNTN) had its price target reduced by Susquehanna from $38.00 to $20.00 in a report issued on Wednesday morning, MarketBeat.com reports. Susquehanna currently has a positive rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Tigress Financial reissued a “strong-buy” rating and issued a $36.00 price objective on shares of MNTN in a research note on Friday, November 7th. Citizens Jmp dropped their price objective on shares of MNTN from $33.00 to $23.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MNTN in a research note on Monday, December 29th. JMP Securities set a $23.00 price target on MNTN in a research report on Wednesday, November 5th. Finally, Citigroup upgraded MNTN from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $33.00 to $22.00 in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.15.

MNTN Price Performance

MNTN opened at $10.32 on Wednesday. MNTN has a 1-year low of $7.71 and a 1-year high of $32.49. The stock has a market cap of $456.28 million and a P/E ratio of -6.66. The stock’s 50 day simple moving average is $11.04 and its 200 day simple moving average is $15.87.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. MNTN had a positive return on equity of 12.69% and a negative net margin of 2.22%.The company had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. The firm’s revenue was up 24.8% on a year-over-year basis.

Insider Transactions at MNTN

In other news, Director Hadi Partovi sold 86,665 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total transaction of $1,160,444.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 447,520 shares of company stock valued at $6,005,775. 60.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in MNTN in the 4th quarter valued at $53,000. KLP Kapitalforvaltning AS purchased a new stake in shares of MNTN in the third quarter worth about $54,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the third quarter valued at about $86,000. Bank of America Corp DE raised its holdings in shares of MNTN by 622,300.0% during the 3rd quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after buying an additional 6,223 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in MNTN during the 4th quarter worth approximately $160,000. 72.90% of the stock is owned by hedge funds and other 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.