MNTN (NYSE:MNTN) Shares Up 9% – Still a Buy?

MNTN Inc. (NYSE:MNTN)’s stock price rose 9% on Monday . The company traded as high as $9.31 and last traded at $9.3550. 347,371 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 945,036 shares. The stock had previously closed at $8.58.

Wall Street Analysts Forecast Growth

MNTN has been the subject of several recent research reports. Morgan Stanley reduced their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and set a $15.00 price objective on shares of MNTN in a report on Wednesday, May 6th. Citizens Jmp reduced their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Canaccord Genuity Group lowered their target price on MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Wall Street Zen raised MNTN from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 20th. One investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.85.

MNTN Price Performance

The company has a market cap of $576.48 million, a PE ratio of -314.40 and a beta of 0.81. The stock’s 50-day moving average is $9.26 and its 200 day moving average is $9.55.

MNTN (NYSE:MNTN) last released its quarterly earnings results 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 firm had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $72.63 million. During the same period in the prior year, the firm posted ($1.41) earnings per share. MNTN’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, analysts expect that MNTN Inc. will post 0.99 EPS for the current year.

Institutional Investors Weigh In On MNTN

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNTN. Militia Capital Management LLC acquired a new position in shares of MNTN during the first quarter valued at about $2,284,000. Mercato Management Legacy LLC acquired a new position in MNTN during the 1st quarter valued at approximately $54,279,000. UBS Group AG raised its holdings in shares of MNTN by 142.1% in the fourth quarter. UBS Group AG now owns 288,267 shares of the company’s stock worth $3,442,000 after buying an additional 169,218 shares during the last quarter. Manchester Financial Inc. acquired a new stake in shares of MNTN during the fourth quarter worth $2,388,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of MNTN during the fourth quarter worth $881,000. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

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.