Corient Private Wealth LLC Invests $836,000 in MNTN Inc. $MNTN

Corient Private Wealth LLC purchased a new stake in shares of MNTN Inc. (NYSE:MNTN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 70,024 shares of the company’s stock, valued at approximately $836,000. Corient Private Wealth LLC owned about 0.09% of MNTN at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MNTN. Aster Capital Management DIFC Ltd purchased a new position in MNTN during the fourth quarter worth $43,000. Los Angeles Capital Management LLC purchased a new stake in MNTN in the fourth quarter worth $53,000. Royal Bank of Canada grew its stake in MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after acquiring an additional 5,590 shares in the last quarter. JPMorgan Chase & Co. bought a new position in MNTN in the 3rd quarter worth about $86,000. Finally, Barclays PLC increased its position in shares of MNTN by 2,341.4% during the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock worth $111,000 after acquiring an additional 8,944 shares during the period. Hedge funds and other institutional investors own 72.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MNTN. Canaccord Genuity Group cut their price target on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen raised shares of MNTN from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Citizens Jmp cut their target price on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $15.00 price target on shares of MNTN in a report on Wednesday, May 6th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and set a $26.00 target price on shares of MNTN in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Stock Down 0.0%

MNTN opened at $11.15 on Friday. The firm’s fifty day simple moving average is $9.05 and its two-hundred day simple moving average is $9.78. MNTN Inc. has a 52-week low of $7.67 and a 52-week high of $32.00. The company has a market cap of $680.14 million, a price-to-earnings ratio of -371.60 and a beta of 0.81.

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

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.