Insider Selling: MNTN (NYSE:MNTN) Major Shareholder Sells $336,092.19 in Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 26,823 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $12.53, for a total transaction of $336,092.19. Following the completion of the sale, the insider directly owned 6,684,275 shares in the company, valued at $83,753,965.75. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The shares were sold at an average price of $12.56, for a total value of $422,229.52.

MNTN Price Performance

MNTN stock opened at $12.80 on Thursday. The stock has a market capitalization of $792.50 million, a P/E ratio of 18.04 and a beta of 0.71. MNTN Inc. has a fifty-two week low of $7.67 and a fifty-two week high of $23.25. The business has a 50-day moving average of $9.96 and a 200-day moving average of $9.54.

MNTN (NYSE:MNTN) last announced its earnings results 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 firm had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. During the same period in the prior year, the business posted ($0.65) EPS. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities analysts expect that MNTN Inc. will post 0.87 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Evercore set a $22.00 price target on shares of MNTN in a research note on Wednesday, August 5th. Tigress Financial decreased their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a report on Thursday, August 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Finally, Citizens Jmp decreased their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given 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 target price of $18.65.

Institutional Trading of MNTN

A number of large investors have recently added to or reduced their stakes in the company. Mercato Management Legacy LLC bought a new position in shares of MNTN in the 1st quarter valued at about $54,279,000. Mercato Partners Growth Iii GP LLC bought a new stake in shares of MNTN in the 4th quarter valued at about $73,646,000. Wellington Management Group LLP lifted its stake in MNTN by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,730,723 shares of the company’s stock valued at $68,425,000 after purchasing an additional 385,421 shares during the last quarter. Bienville Capital Management LLC lifted its stake in MNTN by 49.4% in the 4th quarter. Bienville Capital Management LLC now owns 919,052 shares of the company’s stock valued at $10,973,000 after purchasing an additional 303,905 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in MNTN by 4.6% during the fourth quarter. Federated Hermes Inc. now owns 680,000 shares of the company’s stock worth $8,119,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 72.90% of the company’s stock.

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.