Pier Capital LLC Invests $4.21 Million in MNTN Inc. $MNTN

Pier Capital LLC acquired a new stake in MNTN Inc. (NYSE:MNTN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 226,997 shares of the company’s stock, valued at approximately $4,211,000. Pier Capital LLC owned about 0.51% of MNTN as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in MNTN during the third quarter worth $3,038,000. Legal & General Group Plc lifted its stake in shares of MNTN by 2,787.1% in the 3rd quarter. Legal & General Group Plc now owns 13,396 shares of the company’s stock valued at $248,000 after purchasing an additional 12,932 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of MNTN in the 3rd quarter valued at $1,170,000. Quantbot Technologies LP purchased a new position in shares of MNTN during the 3rd quarter worth $170,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of MNTN during the 3rd quarter worth about $292,000. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Canaccord Genuity Group set a $20.00 price objective on shares of MNTN in a report on Thursday, December 4th. Citigroup dropped their price target on shares of MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Morgan Stanley reduced their price target on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Wall Street Zen upgraded shares of MNTN from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Finally, TD Cowen raised shares of MNTN to a “buy” rating in a research report on Thursday, December 4th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MNTN has an average rating of “Moderate Buy” and an average target price of $22.55.

MNTN Price Performance

Shares of MNTN stock opened at $9.81 on Friday. The stock has a market capitalization of $724.74 million and a price-to-earnings ratio of -6.33. The business has a 50-day moving average of $10.27 and a 200 day moving average of $13.93. MNTN Inc. has a 12 month low of $7.71 and a 12 month high of $32.49.

MNTN (NYSE:MNTN) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The company had revenue of $87.10 million for the quarter, compared to analyst estimates of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. MNTN’s revenue for the quarter was up 24.8% compared to the same quarter last year.

MNTN Profile

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.