Federated Hermes Inc. Increases Position in MNTN Inc. $MNTN

Federated Hermes Inc. boosted its holdings in shares of MNTN Inc. (NYSE:MNTN) by 23.8% during the third quarter, HoldingsChannel.com reports. The firm owned 650,000 shares of the company’s stock after purchasing an additional 125,000 shares during the period. Federated Hermes Inc.’s holdings in MNTN were worth $12,058,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MNTN. KLP Kapitalforvaltning AS purchased a new position in shares of MNTN during the 3rd quarter valued at approximately $54,000. BCS Private Wealth Management Inc. purchased a new position in MNTN during the second quarter valued at $209,000. AMH Equity Ltd purchased a new position in MNTN during the third quarter valued at $186,000. State of Tennessee Department of Treasury acquired a new stake in shares of MNTN in the second quarter valued at about $223,000. Finally, Claro Advisors LLC purchased a new stake in shares of MNTN during the second quarter worth about $336,000. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MNTN news, Director Hadi Partovi sold 192,598 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $13.46, for a total value of $2,592,369.08. Following the transaction, the director directly owned 254,922 shares in the company, valued at $3,431,250.12. The trade was a 43.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 447,520 shares of company stock worth $6,005,775 over the last quarter. 60.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MNTN has been the subject of a number of research analyst reports. UBS Group set a $20.50 target price on MNTN in a report on Tuesday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of MNTN in a research note on Monday, December 29th. Citizens Jmp lowered their target price on shares of MNTN from $33.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen upgraded shares of MNTN from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Tigress Financial restated a “strong-buy” rating and set a $36.00 price target on shares of MNTN in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

MNTN Stock Performance

NYSE MNTN opened at $9.20 on Friday. The stock’s fifty day moving average is $11.91 and its two-hundred day moving average is $17.11. The firm has a market capitalization of $406.92 million and a P/E ratio of -6.52. MNTN Inc. has a fifty-two week low of $9.14 and a fifty-two week high of $32.49.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.04. MNTN had a negative net margin of 16.47% and a negative return on equity of 30.86%. The firm had revenue of $70.00 million for the quarter, compared to analysts’ expectations of $70.11 million. The company’s revenue was up 22.6% on a year-over-year basis.

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.