MNTN Inc. (NYSE:MNTN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of MNTN Inc. (NYSE:MNTN) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.85.

Several equities research analysts have commented on MNTN shares. Wall Street Zen upgraded shares of MNTN from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 20th. Citizens Jmp cut their price target on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a report on Wednesday, May 6th. Canaccord Genuity Group dropped their target price on shares of MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley lowered their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th.

MNTN Stock Performance

Shares of MNTN stock opened at $8.56 on Tuesday. MNTN has a 52 week low of $7.67 and a 52 week high of $32.00. The stock has a 50 day moving average price of $9.26 and a two-hundred day moving average price of $9.57. The stock has a market capitalization of $522.37 million, a PE ratio of -285.40 and a beta of 0.81.

MNTN (NYSE:MNTN) last released its quarterly 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 company had revenue of $73.70 million for the quarter, compared to analyst estimates of $72.63 million. During the same quarter last year, the firm posted ($1.41) EPS. MNTN’s revenue for the quarter was up 14.2% on a year-over-year basis. Research analysts forecast that MNTN will post 0.99 EPS for the current year.

Institutional Investors Weigh In On MNTN

A number of institutional investors and hedge funds have recently made changes to their positions in MNTN. Pacer Advisors Inc. bought a new position in shares of MNTN in the 1st quarter worth $771,000. Zazove Associates LLC raised its holdings in shares of MNTN by 18.7% during the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after buying an additional 23,721 shares in the last quarter. Militia Capital Management LLC bought a new position in MNTN during the first quarter valued at approximately $2,362,000. Renaissance Technologies LLC lifted its holdings in shares of MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after acquiring an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of MNTN during the 1st quarter valued at $162,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

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.