Hadi Partovi Sells 86,665 Shares of MNTN (NYSE:MNTN) Stock

MNTN Inc. (NYSE:MNTN) Director Hadi Partovi sold 86,665 shares of MNTN stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Hadi Partovi also recently made the following trade(s):

• On Tuesday, December 2nd, Hadi Partovi sold 168,257 shares of MNTN stock. The stock was sold at an average price of $13.39, for a total value of $2,252,961.23.
• On Monday, December 1st, Hadi Partovi sold 192,598 shares of MNTN stock. The stock was sold at an average price of $13.46, for a total transaction of $2,592,369.08.

MNTN Stock Up 2.9%

Shares of MNTN traded up $0.38 during mid-day trading on Wednesday, hitting $13.68. 429,402 shares of the company’s stock were exchanged, compared to its average volume of 774,415. The firm’s fifty day simple moving average is $15.58. MNTN Inc. has a twelve month low of $13.00 and a twelve month high of $32.49.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $70.00 million during the quarter, compared to the consensus estimate of $70.11 million. The company’s revenue was up 22.6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Tigress Financial reissued a “strong-buy” rating and issued a $36.00 price objective on shares of MNTN in a research note on Friday, November 7th. Wall Street Zen raised shares of MNTN from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Citizens Jmp decreased their price objective on shares of MNTN from $33.00 to $23.00 and set a “market outperform” rating for the company in a report on Wednesday, November 5th. JMP Securities set a $23.00 target price on shares of MNTN in a research note on Wednesday, November 5th. Finally, Evercore ISI cut their target price on shares of MNTN from $39.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MNTN has a consensus rating of “Moderate Buy” and an average price target of $27.15.

Hedge Funds Weigh In On MNTN

A number of institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new stake in MNTN in the third quarter valued at $54,000. JPMorgan Chase & Co. bought a new stake in shares of MNTN in the 3rd quarter valued at about $86,000. Bank of America Corp DE raised its holdings in shares of MNTN by 622,300.0% in the 3rd quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after purchasing an additional 6,223 shares during the period. Quantbot Technologies LP acquired a new stake in MNTN in the 3rd quarter valued at about $170,000. Finally, AMH Equity Ltd bought a new position in MNTN during the third quarter worth about $186,000. 72.90% of the stock is currently owned by institutional investors and hedge funds.

About MNTN

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.