MNTN (NYSE:MNTN) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of MNTN (NYSE:MNTN) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

A number of other equities research analysts have also recently weighed in on the company. Evercore set a $22.00 price objective on MNTN in a research note on Wednesday, August 5th. Citigroup lowered their target price on shares of MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley set a $16.00 price target on shares of MNTN in a research report on Monday, August 10th. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Tigress Financial lowered their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.65.

MNTN Stock Up 0.2%

Shares of NYSE MNTN opened at $12.55 on Friday. The business has a 50-day moving average price of $9.74 and a 200 day moving average price of $9.48. The stock has a market cap of $776.66 million, a PE ratio of 17.67 and a beta of 0.71. MNTN has a 52-week low of $7.67 and a 52-week high of $23.25.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in MNTN during the fourth quarter worth about $43,000. Los Angeles Capital Management LLC purchased a new position in shares of MNTN during the 4th quarter worth approximately $53,000. Royal Bank of Canada lifted its holdings in shares of MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock valued at $70,000 after buying an additional 5,590 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the 3rd quarter valued at approximately $86,000. Finally, Barclays PLC boosted its stake in shares of MNTN by 2,341.4% in the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after buying an additional 8,944 shares in the last quarter. Institutional investors and hedge funds 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.