MNTN (NYSE:MNTN) Downgraded by Evercore to “Inline”

MNTN (NYSE:MNTN) was downgraded by equities research analysts at Evercore from an “outperform” rating to an “inline” rating in a research note issued to investors on Thursday, Briefing.com reports. They currently have a $7.00 price target on the stock. Evercore‘s price objective would indicate a potential downside of 32.72% from the company’s current price.

Other research analysts also recently issued reports about the company. Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Citigroup cut MNTN from a “neutral” rating to a “market perform” rating in a research note on Thursday. Citizens Jmp downgraded MNTN from a “mkt outperform” rating to a “market perform” rating in a research report on Thursday. Morgan Stanley set a $16.00 price target on shares of MNTN in a research note on Monday, August 10th. Finally, Freedom Broker began coverage on shares of MNTN in a report on Tuesday. They issued a “buy” rating and a $16.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.20.

MNTN Stock Up 6.9%

MNTN stock opened at $10.40 on Thursday. The stock has a market capitalization of $643.93 million, a PE ratio of 14.65 and a beta of 1.17. MNTN has a twelve month low of $7.67 and a twelve month high of $14.98. The company has a 50 day moving average of $10.87 and a 200-day moving average of $9.97.

MNTN (NYSE:MNTN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). The company had revenue of $80.25 million during the quarter, compared to the consensus estimate of $87.77 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities analysts anticipate that MNTN will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at MNTN

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the transaction, the insider directly owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 335,555 shares of company stock valued at $4,266,038 over the last three months. 19.60% of the stock is currently owned by company insiders.

Institutional Trading of MNTN

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of MNTN in the 3rd quarter valued at about $26,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of MNTN in the first quarter valued at approximately $117,000. Chicago Partners Investment Group LLC bought a new stake in MNTN in the 1st quarter valued at $156,000. Hsbc Holdings PLC increased its holdings in shares of MNTN by 45.4% in the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock valued at $161,000 after purchasing an additional 5,720 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of MNTN during the 1st quarter worth about $162,000. 72.90% of the stock is owned by institutional investors.

Key Headlines Impacting MNTN

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Third-quarter revenue increased 14.6% year over year, and EPS rose to $0.10 from $0.08 a year earlier. However, both revenue and earnings missed analysts’ estimates. MNTN Q3 earnings results
• Negative Sentiment: MNTN reported $0.10 per share versus a consensus estimate of $0.20, while revenue of $80.25 million came in below expectations of $87.77 million. The earnings and sales misses raise concerns about execution and near-term growth. MNTN Q3 earnings and revenues lag estimates
• Negative Sentiment: Management’s go-to-market issues prompted a guidance cut, adding to concerns beyond the quarterly miss. MNTN guidance cut
• Negative Sentiment: Raymond James and Citizens JMP both downgraded MNTN to Market Perform from more favorable ratings, signaling reduced conviction in the stock’s near-term upside. Raymond James downgrade

About MNTN

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.