Pacer Advisors Inc. Makes New Investment in MNTN Inc. $MNTN

Pacer Advisors Inc. bought a new position in MNTN Inc. (NYSE:MNTN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 87,580 shares of the company’s stock, valued at approximately $771,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in MNTN in the 4th quarter worth approximately $43,000. Los Angeles Capital Management LLC bought a new stake in MNTN during the 4th quarter valued at $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 valued at $70,000 after acquiring an additional 5,590 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of MNTN during the third quarter worth $86,000. Finally, Barclays PLC boosted its holdings in shares of MNTN by 2,341.4% in the fourth quarter. Barclays PLC now owns 9,326 shares of the company’s stock worth $111,000 after acquiring an additional 8,944 shares during the period. Institutional investors own 72.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MNTN has been the topic of a number of recent research reports. Morgan Stanley set a $16.00 price objective on MNTN in a report on Monday. Canaccord Genuity Group decreased their price target on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Tigress Financial reaffirmed a “strong-buy” rating and set a $26.00 price objective on shares of MNTN in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp cut their price target on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

MNTN Price Performance

Shares of MNTN stock opened at $11.49 on Tuesday. MNTN Inc. has a 1 year low of $7.67 and a 1 year high of $23.86. The firm has a market cap of $701.00 million, a PE ratio of 16.18 and a beta of 0.71. The company has a 50 day simple moving average of $9.56 and a two-hundred day simple moving average of $9.43.

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.