Insider Selling: MNTN (NYSE:MNTN) Major Shareholder Sells 26,823 Shares

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 26,823 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $12.53, for a total value of $336,092.19. Following the sale, the insider owned 6,684,275 shares of the company’s stock, valued at approximately $83,753,965.75. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The stock was sold at an average price of $12.56, for a total value of $422,229.52.

MNTN Stock Down 0.6%

Shares of MNTN traded down $0.07 during midday trading on Monday, reaching $12.45. 991,418 shares of the stock were exchanged, compared to its average volume of 1,175,375. MNTN Inc. has a 12-month low of $7.67 and a 12-month high of $23.25. The firm has a 50 day simple moving average of $9.80 and a 200-day simple moving average of $9.50. The company has a market cap of $770.53 million, a price-to-earnings ratio of 17.54 and a beta of 0.71.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The firm had revenue of $82.54 million during the quarter, compared to the consensus estimate of $82.34 million. During the same period in the previous year, the firm posted ($0.65) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Research analysts expect that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNTN shares. Wall Street Zen lowered shares of MNTN from a “buy” rating to a “hold” rating in a research note on Sunday. Evercore set a $22.00 price objective on shares of MNTN in a report on Wednesday, August 5th. Tigress Financial lowered their target price on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Finally, Citizens Jmp reduced their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MNTN currently has an average rating of “Moderate Buy” and an average price target of $18.65.

Institutional Investors Weigh In On MNTN

Several hedge funds and other institutional investors have recently made changes to their positions in MNTN. Aster Capital Management DIFC Ltd acquired a new stake in MNTN in the 4th quarter valued at approximately $43,000. Los Angeles Capital Management LLC bought a new stake in shares of MNTN in the fourth quarter valued at approximately $53,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN in the third quarter worth $86,000. Cary Street Partners Financial LLC grew its stake in shares of MNTN by 29.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock worth $243,000 after acquiring an additional 4,640 shares during the last quarter. Finally, Royal Bank of Canada increased its position in MNTN by 2,093.6% during the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after acquiring an additional 5,590 shares during the period. 72.90% of the stock is owned by institutional investors and hedge funds.

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.