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

MNTN (NYSE:MNTN) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday.

MNTN has been the topic of a number of other research reports. Weiss Ratings raised shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Morgan Stanley lowered their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a report on Wednesday, May 6th. Canaccord Genuity Group decreased their price objective 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. Finally, Citizens Jmp lowered their target price on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Stock Performance

Shares of NYSE MNTN traded down $0.22 during mid-day trading on Friday, hitting $10.58. The stock had a trading volume of 625,439 shares, compared to its average volume of 1,594,638. The firm has a market cap of $645.58 million, a PE ratio of -352.70 and a beta of 0.81. The company has a 50 day moving average of $9.16 and a two-hundred day moving average of $9.75. MNTN has a twelve month low of $7.67 and a twelve month high of $32.00.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted ($1.41) earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts predict that MNTN will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On MNTN

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in MNTN during the first quarter worth $771,000. Zazove Associates LLC increased 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 worth $1,323,000 after purchasing an additional 23,721 shares in the last quarter. Militia Capital Management LLC acquired a new position in shares of MNTN during the 1st quarter worth about $2,362,000. Renaissance Technologies LLC boosted its holdings 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 buying an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MNTN during the 1st quarter worth approximately $162,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

About MNTN

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.