MNTN Sees Unusually Large Options Volume (NYSE:MNTN)

MNTN Inc. (NYSE:MNTN) was the target of some unusual options trading activity on Tuesday. Traders bought 6,259 call options on the stock. This is an increase of 987% compared to the average daily volume of 576 call options.

Institutional Trading of MNTN

Large investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new stake in MNTN during the 4th quarter valued at $43,000. Los Angeles Capital Management LLC bought a new stake in shares of MNTN during the fourth quarter valued at about $53,000. Royal Bank of Canada lifted 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 worth $70,000 after purchasing an additional 5,590 shares during the period. JPMorgan Chase & Co. acquired a new stake in MNTN in the third quarter worth about $86,000. Finally, Barclays PLC grew its position in MNTN by 2,341.4% in the 4th quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after buying an additional 8,944 shares in the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.

MNTN Stock Down 3.1%

MNTN stock opened at $8.55 on Thursday. The stock has a market cap of $521.76 million, a PE ratio of -285.07 and a beta of 0.81. The firm’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $9.60. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $32.00.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MNTN had a net margin of 7.84% and a return on equity of 16.44%. The firm had revenue of $73.70 million for the quarter, compared to analyst estimates of $72.63 million. During the same period in the previous year, the firm earned ($1.41) earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities analysts forecast that MNTN will post 0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MNTN shares. Tigress Financial reiterated a “strong-buy” rating and set a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. Canaccord Genuity Group decreased their target price on MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Morgan Stanley cut their price target on MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.85.

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.