MNTN (NYSE:MNTN) Stock Price Up 7.4% – What’s Next?

MNTN Inc. (NYSE:MNTN)’s stock price rose 7.4% during mid-day trading on Thursday. The stock traded as high as $10.00 and last traded at $10.0950. 94,325 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 941,533 shares. The stock had previously closed at $9.40.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a research report on Monday, September 28th. Citigroup cut their target price on shares of MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Evercore set a $22.00 target price on shares of MNTN in a report on Wednesday, August 5th. Morgan Stanley set a $16.00 price target on shares of MNTN in a research note on Monday, August 10th. Finally, Tigress Financial lowered their price target on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a report on Thursday, August 13th. One equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

MNTN Stock Up 9.1%

The firm has a fifty day moving average price of $11.60 and a 200-day moving average price of $10.09. The firm has a market cap of $635.02 million, a price-to-earnings ratio of 14.45 and a beta of 1.15.

MNTN (NYSE:MNTN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The business had revenue of $82.54 million during the quarter, compared to analysts’ expectations of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. MNTN’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. Equities research analysts anticipate that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 is accessible through this hyperlink. Over the last quarter, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of MNTN during the 3rd quarter worth about $26,000. Pacer Advisors Inc. purchased a new stake in MNTN in the first quarter valued at approximately $771,000. Zazove Associates LLC grew its holdings in MNTN by 18.7% in the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after purchasing an additional 23,721 shares during the period. Militia Capital Management LLC purchased a new stake in MNTN in the first quarter valued at approximately $2,362,000. Finally, Renaissance Technologies LLC increased its position in MNTN by 40.7% during the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after purchasing an additional 187,028 shares during the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

MNTN Company Profile

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN’s services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.