Wall Street Zen Upgrades MNTN (NYSE:MNTN) to “Buy”

by · The Markets Daily

MNTN (NYSE:MNTN – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on MNTN. Tigress Financial reduced their target price on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 13th. Citigroup cut their price objective on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Evercore set a $22.00 price objective on MNTN in a research note on Wednesday, August 5th. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.65.

Read Our Latest Analysis on MNTN

MNTN Stock Performance

MNTN stock opened at $11.79 on Friday. MNTN has a 1 year low of $7.67 and a 1 year high of $20.86. The firm has a 50 day moving average price of $11.21 and a 200 day moving average price of $9.93. The company has a market cap of $729.56 million, a price-to-earnings ratio of 16.60 and a beta of 0.94.

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

Insider Buying and Selling

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 335,555 shares of company stock valued at $4,266,038 over the last 90 days. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On MNTN

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new position in MNTN during the 2nd quarter worth approximately $55,000. Pacer Advisors Inc. purchased a new stake in shares of MNTN during the first quarter valued at approximately $771,000. Zazove Associates LLC raised its stake in shares of MNTN by 18.7% during the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after purchasing an additional 23,721 shares during the period. Militia Capital Management LLC acquired a new position in shares of MNTN during the first quarter worth $2,362,000. Finally, Renaissance Technologies LLC lifted its position in shares of MNTN by 40.7% during the first 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 in the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

MNTN Company Profile

(Get Free Report)

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.

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