MNTN (NYSE:MNTN) Releases Earnings Results, Beats Estimates By $0.17 EPS

MNTN (NYSE:MNTN) announced its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17, Zacks reports. MNTN had a negative return on equity of 30.86% and a negative net margin of 16.47%.

MNTN Stock Down 1.1%

Shares of MNTN traded down $0.09 during midday trading on Tuesday, reaching $8.13. 1,414,023 shares of the stock were exchanged, compared to its average volume of 596,860. The firm has a 50 day simple moving average of $11.30 and a 200-day simple moving average of $16.21. MNTN has a 12-month low of $7.71 and a 12-month high of $32.49. The company has a market cap of $359.59 million and a price-to-earnings ratio of -5.77.

Analyst Upgrades and Downgrades

MNTN has been the topic of several recent analyst reports. Zacks Research downgraded MNTN from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Evercore reduced their price target 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. JMP Securities set a $23.00 price objective on shares of MNTN in a research report on Wednesday, November 5th. Tigress Financial restated a “strong-buy” rating and issued a $36.00 target price on shares of MNTN in a report on Friday, November 7th. Finally, UBS Group set a $20.50 price target on MNTN in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

Insider Transactions at MNTN

In other MNTN news, Director Hadi Partovi sold 86,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 447,520 shares of company stock valued at $6,005,775 in the last ninety days.

Institutional Investors Weigh In On MNTN

Large investors have recently bought and sold shares of the business. Soros Fund Management LLC acquired a new position in MNTN during the second quarter worth $2,187,000. Raymond James Financial Inc. acquired a new position in shares of MNTN during the 2nd quarter valued at about $2,111,000. Bamco Inc. NY bought a new position in shares of MNTN in the 2nd quarter valued at approximately $1,531,000. Balyasny Asset Management L.P. acquired a new stake in MNTN in the 2nd quarter worth approximately $3,442,000. Finally, Boothbay Fund Management LLC bought a new stake in MNTN during the second quarter worth approximately $2,183,000. 72.90% of the stock is currently owned by institutional investors.

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.