MNTN (NYSE:MNTN) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of MNTN (NYSE:MNTN) from a hold rating to a buy rating in a report published on Monday,Wall Street Zen reports.

Several other brokerages also recently commented on MNTN. Tigress Financial dropped their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 13th. Citigroup decreased their target price on MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Morgan Stanley set a $16.00 price target on MNTN in a report on Monday, August 10th. Evercore set a $22.00 price target on MNTN in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MNTN currently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

MNTN Stock Performance

Shares of NYSE MNTN opened at $10.09 on Monday. The stock has a market cap of $624.72 million, a P/E ratio of 14.22 and a beta of 0.94. The firm has a 50 day moving average price of $11.41 and a 200 day moving average price of $10.02. MNTN has a 52-week low of $7.67 and a 52-week high of $18.96.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.10). The firm had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.65) earnings per share. Analysts predict that MNTN will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the completion of the transaction, the insider directly owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. This trade represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 335,555 shares of company stock worth $4,266,038 in the last ninety days. 19.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MNTN

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in shares of MNTN during the 1st quarter worth approximately $117,000. Modus Advisors LLC bought a new stake in shares of MNTN in the fourth quarter worth $176,000. Aristides Capital LLC acquired a new position in MNTN during the fourth quarter worth $191,000. Chicago Partners Investment Group LLC bought a new position in MNTN in the first quarter valued at $156,000. Finally, Hsbc Holdings PLC grew its position in MNTN by 45.4% in the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock valued at $161,000 after purchasing an additional 5,720 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.

About MNTN

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.