MNTN (NYSE:MNTN) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of MNTN (NYSE:MNTN – Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

MNTN has been the topic of a number of other reports. Tigress Financial lowered their price target on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 13th. Morgan Stanley set a $16.00 price objective on shares of MNTN in a research note on Monday, August 10th. Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 target price on shares of MNTN in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Evercore set a $22.00 price target on shares of MNTN in a report on Wednesday, August 5th. One equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, MNTN presently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

Check Out Our Latest Stock Report on MNTN

MNTN Stock Performance

Shares of NYSE MNTN opened at $12.56 on Friday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $23.25. The stock has a market cap of $777.40 million, a PE ratio of 17.69 and a beta of 0.71. The stock has a fifty day moving average of $9.88 and a 200-day moving average of $9.52.

MNTN (NYSE:MNTN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The company had revenue of $82.54 million for the quarter, compared to analysts’ expectations of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the company posted ($0.65) EPS. On average, sell-side analysts predict that MNTN will post 0.87 EPS for the current year.

Insider Activity

In other news, major shareholder Baroda Ventures Llc sold 33,617 shares of MNTN stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $12.56, for a total transaction of $422,229.52. Following the completion of the sale, the insider owned 6,650,658 shares in the company, valued at approximately $83,532,264.48. This trade represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On MNTN

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Soros Fund Management LLC bought a new stake in MNTN during the second quarter valued at approximately $2,187,000. Raymond James Financial Inc. purchased a new position in MNTN in the 2nd quarter worth approximately $2,111,000. Bamco Inc. NY bought a new position in shares of MNTN in the 2nd quarter worth $1,531,000. Balyasny Asset Management L.P. bought a new position in shares of MNTN in the 2nd quarter worth $3,442,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of MNTN during the 2nd quarter valued at $2,183,000. 72.90% of the stock is owned by hedge funds and other institutional investors.

About MNTN

(Get Free Report)

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.

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