Teachers Retirement System of The State of Kentucky Takes Position in MNTN Inc. $MNTN

Teachers Retirement System of The State of Kentucky purchased a new position in MNTN Inc. (NYSE:MNTN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 63,084 shares of the company’s stock, valued at approximately $1,170,000. Teachers Retirement System of The State of Kentucky owned approximately 0.14% of MNTN at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of MNTN by 787.7% in the 3rd quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock valued at $11,527,000 after purchasing an additional 551,392 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of MNTN during the 2nd quarter valued at approximately $11,482,000. G2 Investment Partners Management LLC purchased a new stake in MNTN during the 2nd quarter valued at $6,996,000. Bank of Montreal Can bought a new stake in MNTN in the second quarter worth $4,432,000. Finally, Balyasny Asset Management L.P. bought a new stake in MNTN in the second quarter worth $3,442,000. 72.90% of the stock is owned by institutional investors.

MNTN Stock Performance

MNTN stock opened at $10.63 on Friday. The company has a market capitalization of $785.24 million and a PE ratio of -6.86. The company has a 50 day moving average price of $10.41 and a 200-day moving average price of $14.27. MNTN Inc. has a fifty-two week low of $7.71 and a fifty-two week high of $32.49.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17. The company had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The firm’s revenue was up 24.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

MNTN has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of MNTN from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Morgan Stanley lowered their target price on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a report on Tuesday, January 13th. Evercore set a $27.00 price target on shares of MNTN in a report on Wednesday, February 11th. UBS Group set a $20.50 price objective on shares of MNTN in a research report on Tuesday, January 13th. Finally, Susquehanna dropped their target price on MNTN from $38.00 to $20.00 and set a “positive” rating for the company in a research report on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.55.

MNTN Company Profile

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.