MNTN Inc. (NYSE:MNTN – Get Free Report)’s share price was down 4.8% during trading on Wednesday. The stock traded as low as $9.98 and last traded at $9.9720. 114,091 shares traded hands during trading, a decline of 88% from the average session volume of 934,841 shares. The stock had previously closed at $10.47.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Evercore set a $22.00 price target on MNTN in a research report on Wednesday, August 5th. Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Citigroup lowered their price objective on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Tigress Financial dropped their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 13th. Finally, Morgan Stanley set a $16.00 price objective on shares of MNTN in a research note on Monday, August 10th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MNTN has an average rating of “Moderate Buy” and an average target price of $18.65.
Get Our Latest Analysis on MNTN
MNTN Stock Down 0.5%
The business’s 50-day simple moving average is $11.43 and its two-hundred day simple moving average is $10.14. The firm has a market cap of $611.78 million, a price-to-earnings ratio of 13.60 and a beta of 1.15.
MNTN (NYSE:MNTN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). MNTN had a return on equity of 18.85% and a net margin of 18.00%. The firm had revenue of $82.54 million for the quarter, compared to analysts’ expectations of $82.34 million. During the same period in the previous year, the company earned ($0.65) earnings per share. The company’s revenue was up 20.5% compared to the same quarter last year. On average, analysts expect that MNTN Inc. will post 0.87 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the completion of the transaction, the insider owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. This represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 335,555 shares of company stock valued at $4,266,038. Corporate insiders own 19.60% of the company’s stock.
Institutional Trading of MNTN
Several institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in MNTN in the 3rd quarter valued at $26,000. Pacer Advisors Inc. purchased a new stake in MNTN in the 1st quarter worth $771,000. Zazove Associates LLC increased its holdings in MNTN by 18.7% in the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after acquiring an additional 23,721 shares in the last quarter. Militia Capital Management LLC acquired a new position in MNTN during the first quarter worth $2,362,000. Finally, Renaissance Technologies LLC raised its position in MNTN by 40.7% during the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after acquiring an additional 187,028 shares during the period. 72.90% of the stock is owned by institutional investors and hedge funds.
About MNTN
MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.
The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.
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