Citigroup Begins Coverage on MNTN (NYSE:MNTN)

Stock analysts at Citigroup began coverage on shares of MNTN (NYSE:MNTN) in a report released on Monday, Marketbeat.com reports. The firm set a “neutral” rating and a $22.00 price target on the stock. Citigroup’s target price indicates a potential upside of 11.07% from the company’s previous close.

Separately, Wall Street Zen upgraded shares of MNTN to a “hold” rating in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.56.

MNTN Trading Down 12.7%

MNTN stock opened at $19.81 on Monday. MNTN has a one year low of $11.00 and a one year high of $32.49.

Insider Activity at MNTN

In other news, CFO Patrick Pohlen sold 255,232 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $4,083,712.00. Following the completion of the sale, the chief financial officer now directly owns 1,319,489 shares of the company’s stock, valued at approximately $21,111,824. This represents a 16.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dana R. Settle sold 800,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $12,800,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,955,232 shares of company stock valued at $31,283,712 over the last ninety days.

About MNTN

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.