Mercato Management Legacy LLC Purchases New Shares in MNTN Inc. $MNTN

Mercato Management Legacy LLC acquired a new stake in shares of MNTN Inc. (NYSE:MNTN) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,168,022 shares of the company’s stock, valued at approximately $54,279,000. MNTN makes up 100.0% of Mercato Management Legacy LLC’s portfolio, making the stock its largest position. Mercato Management Legacy LLC owned about 10.11% of MNTN as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MNTN. UBS Group AG increased its stake in MNTN by 142.1% in the 4th quarter. UBS Group AG now owns 288,267 shares of the company’s stock valued at $3,442,000 after buying an additional 169,218 shares during the last quarter. Manchester Financial Inc. bought a new position in shares of MNTN during the 4th quarter worth $2,388,000. WINTON GROUP Ltd purchased a new position in shares of MNTN in the fourth quarter worth about $881,000. Corient Private Wealth LLC bought a new position in shares of MNTN in the fourth quarter worth $836,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in MNTN by 95.6% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 145,491 shares of the company’s stock worth $1,280,000 after purchasing an additional 71,114 shares during the period. Institutional investors own 72.90% of the company’s stock.

MNTN Stock Performance

NYSE MNTN opened at $8.55 on Thursday. The stock has a 50-day moving average of $9.23 and a 200 day moving average of $9.60. MNTN Inc. has a one year low of $7.67 and a one year high of $32.00. The company has a market capitalization of $521.76 million, a price-to-earnings ratio of -285.07 and a beta of 0.81.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $73.70 million for the quarter, compared to the consensus estimate of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.41) EPS. On average, equities analysts predict that MNTN Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley cut their price objective on MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Wall Street Zen raised MNTN from a “buy” rating to a “strong-buy” rating in a research note on Monday. Canaccord Genuity Group reduced their target price on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Raymond James Financial reissued an “outperform” rating and set a $15.00 price target on shares of MNTN in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.85.

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.