Manchester Financial Inc. Takes Position in MNTN Inc. $MNTN

Manchester Financial Inc. acquired a new stake in MNTN Inc. (NYSE:MNTN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,000 shares of the company’s stock, valued at approximately $2,388,000.

A number of other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of MNTN in the fourth quarter valued at approximately $53,000. JPMorgan Chase & Co. acquired a new position in shares of MNTN in the third quarter valued at approximately $86,000. Cary Street Partners Financial LLC raised its position in shares of MNTN by 29.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock valued at $243,000 after buying an additional 4,640 shares during the last quarter. Bank of America Corp DE raised its position in shares of MNTN by 622,300.0% in the third quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after buying an additional 6,223 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in MNTN in the third quarter valued at approximately $170,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Stock Performance

Shares of MNTN stock opened at $8.50 on Friday. MNTN Inc. has a one year low of $7.67 and a one year high of $32.00. The company has a 50 day moving average price of $9.13 and a 200 day moving average price of $10.22. The firm has a market capitalization of $518.28 million and a price-to-earnings ratio of -283.17.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). MNTN had a return on equity of 16.44% and a net margin of 7.84%.The business had revenue of $73.70 million for the quarter, compared to analysts’ expectations of $72.63 million. During the same quarter in the prior year, the firm earned ($1.41) earnings per share. MNTN’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that MNTN Inc. will post 0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MNTN shares. Weiss Ratings raised shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Wall Street Zen lowered shares of MNTN from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Canaccord Genuity Group dropped their price target on shares of MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 price target on shares of MNTN in a research report on Wednesday, May 6th. Finally, Citizens Jmp dropped their price target on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.68.

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.