MNTN (NYSE:MNTN) Downgraded by Wall Street Zen to Hold

by · The Markets Daily

Wall Street Zen downgraded shares of MNTN (NYSE:MNTN – Free Report) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Evercore lowered shares of MNTN from an “outperform” rating to an “in-line” rating and set a $7.00 price objective on the stock. in a research note on Thursday. Susquehanna cut their target price on shares of MNTN from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Thursday. Citigroup cut shares of MNTN from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $7.00 in a research report on Thursday. Morgan Stanley set a $16.00 price target on shares of MNTN in a report on Monday, August 10th. Finally, Tigress Financial lowered their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.15.

View Our Latest Stock Analysis on MNTN

MNTN Trading Up 12.2%

NYSE:MNTN opened at $5.28 on Friday. MNTN has a 1-year low of $4.60 and a 1-year high of $14.89. The firm has a market capitalization of $326.49 million, a price-to-earnings ratio of 7.23 and a beta of 1.17. The business’s 50-day moving average price is $10.55 and its two-hundred day moving average price is $9.91.

MNTN (NYSE:MNTN – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). The company had revenue of $80.25 million for the quarter, compared to analyst estimates of $87.77 million. MNTN had a return on equity of 18.46% and a net margin of 17.81%. MNTN’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Sell-side analysts predict that MNTN will post 0.64 earnings per share for the current year.

Insider Buying and Selling at MNTN

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of MNTN stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the transaction, the insider owned 6,375,543 shares in the company, valued at $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 335,555 shares of company stock worth $4,266,038. Insiders own 19.60% of the company’s stock.

Institutional Trading of MNTN

Hedge funds have recently bought and sold shares of the stock. One Way Holdings LLC bought a new stake in shares of MNTN during the third quarter worth $1,122,000. Militia Capital Management LLC bought a new stake in MNTN in the 1st quarter valued at $2,362,000. Pacer Advisors Inc. bought a new stake in MNTN in the 1st quarter valued at $771,000. Mercato Management Legacy LLC bought a new stake in MNTN in the 1st quarter valued at $54,279,000. Finally, Renaissance Technologies LLC boosted its stake in 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 purchasing an additional 187,028 shares during the period. 72.90% of the stock is currently owned by institutional investors and hedge funds.

More MNTN News

Here are the key news stories impacting MNTN this week:

  • Positive Sentiment: Susquehanna lowered its price target from $20 to $12 but maintained a positive rating, signaling continued potential upside in the analyst’s view. Susquehanna price target article
  • Neutral Sentiment: MNTN announced upcoming investor-conference meetings with its CEO and CFO, offering a chance to address investor concerns, but no new operating developments were disclosed. Investor conference announcement
  • Negative Sentiment: Third-quarter results missed estimates: adjusted EPS was $0.10 and revenue was $80.25 million, below analysts’ $87.77 million forecast. MNTN also cut its revenue outlook, citing sales-execution challenges and disruption in its sales organization; it expects fourth-quarter revenue of $75 million to $78 million. Earnings and outlook coverage
  • Negative Sentiment: Several law firms have announced investigations into whether MNTN or its executives adequately disclosed sales-force, customer-acquisition and growth issues. These are allegations under investigation, not findings of wrongdoing, but add uncertainty for investors. Robbins LLP investigation notice
  • Negative Sentiment: Analyst sentiment also weakened: Evercore downgraded MNTN to “in-line,” while Raymond James and Citizens JMP cut their ratings to “market perform.” Raymond James downgrade

About MNTN

(Get Free Report)

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.

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