MNTN (NYSE:MNTN) Stock Rating Lowered by Wall Street Zen

MNTN (NYSE:MNTN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities analysts have also issued reports about the company. Citigroup reduced their price target on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Evercore set a $22.00 target price on shares of MNTN in a report on Wednesday, August 5th. Morgan Stanley set a $16.00 target price on shares of MNTN in a research note on Monday, August 10th. Finally, Tigress Financial dropped their price target on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.65.

MNTN Stock Up 1.1%

MNTN stock opened at $11.41 on Friday. The company has a market capitalization of $706.16 million, a PE ratio of 16.07 and a beta of 0.94. The firm has a fifty day simple moving average of $11.29 and a two-hundred day simple moving average of $10.01. MNTN has a twelve month low of $7.67 and a twelve month high of $20.64.

MNTN (NYSE:MNTN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company had revenue of $82.54 million for the quarter, compared to the consensus estimate of $82.34 million. During the same period last year, the business posted ($0.65) earnings per share. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, equities analysts expect that MNTN will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of MNTN stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the sale, the insider directly owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. This trade represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 335,555 shares of company stock valued at $4,266,038. Company insiders own 19.60% of the company’s stock.

Institutional Trading of MNTN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNTN. Mercato Management Legacy LLC purchased a new stake in MNTN in the first quarter worth $54,279,000. Militia Capital Management LLC purchased a new position in MNTN during the first quarter valued at $2,362,000. Manchester Financial Inc. bought a new stake in shares of MNTN during the 4th quarter valued at $2,388,000. Renaissance Technologies LLC grew its position in shares of 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 period. Finally, UBS Group AG increased its stake in shares of MNTN by 142.1% in the 4th quarter. UBS Group AG now owns 288,267 shares of the company’s stock worth $3,442,000 after acquiring an additional 169,218 shares in the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN Company Profile

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.