Teachers Retirement System of The State of Kentucky Purchases 71,114 Shares of MNTN Inc. $MNTN

Teachers Retirement System of The State of Kentucky grew its position in MNTN Inc. (NYSE:MNTN) by 95.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 145,491 shares of the company’s stock after purchasing an additional 71,114 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MNTN were worth $1,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in MNTN in the fourth quarter valued at about $43,000. Los Angeles Capital Management LLC bought a new stake in MNTN during the 4th quarter worth about $53,000. Royal Bank of Canada raised its holdings in MNTN by 2,093.6% during the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after purchasing an additional 5,590 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in MNTN during the 3rd quarter valued at about $86,000. Finally, Barclays PLC boosted its stake in shares of MNTN by 2,341.4% in the 4th quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after purchasing an additional 8,944 shares during the last quarter. Institutional investors own 72.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. Canaccord Genuity Group dropped their target price on shares of MNTN from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp reduced their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.85.

MNTN Price Performance

Shares of MNTN stock opened at $10.15 on Thursday. The stock has a market cap of $619.19 million, a PE ratio of -338.30 and a beta of 0.81. The stock has a 50-day moving average of $9.18 and a 200-day moving average of $9.71. MNTN Inc. has a one year low of $7.67 and a one year high of $32.00.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). MNTN had a net margin of 7.84% and a return on equity of 16.44%. The firm had revenue of $73.70 million for the quarter, compared to analyst estimates of $72.63 million. During the same quarter in the prior year, the firm posted ($1.41) EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, research analysts anticipate that MNTN Inc. will post 0.99 earnings per share for the current year.

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.