MNTN Inc. $MNTN Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in shares of MNTN Inc. (NYSE:MNTN) by 23.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 650,000 shares of the company’s stock after buying an additional 125,000 shares during the period. Federated Hermes Inc. owned approximately 1.49% of MNTN worth $12,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. AMH Equity Ltd acquired a new position in shares of MNTN during the third quarter valued at about $186,000. Concurrent Investment Advisors LLC grew its position in MNTN by 62.2% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 36,500 shares of the company’s stock worth $677,000 after purchasing an additional 14,000 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in MNTN during the 3rd quarter valued at approximately $54,000. Zazove Associates LLC purchased a new position in shares of MNTN in the third quarter worth $928,000. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of MNTN during the second quarter valued at $3,170,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

Insider Transactions at MNTN

In related news, Director Hadi Partovi sold 86,665 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total transaction of $1,160,444.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 447,520 shares of company stock worth $6,005,775 over the last quarter. Corporate insiders own 60.30% of the company’s stock.

MNTN Stock Down 3.7%

MNTN stock opened at $9.20 on Friday. The firm has a market cap of $406.92 million and a price-to-earnings ratio of -6.52. MNTN Inc. has a 52 week low of $9.14 and a 52 week high of $32.49. The business’s 50-day moving average price is $11.91 and its 200 day moving average price is $17.11.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The company had revenue of $70.00 million during the quarter, compared to the consensus estimate of $70.11 million. MNTN had a negative return on equity of 30.86% and a negative net margin of 16.47%.The firm’s revenue was up 22.6% compared to the same quarter last year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MNTN. Evercore ISI reduced their target price on MNTN from $39.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Needham & Company LLC reduced their price objective on MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MNTN in a research report on Monday, December 29th. Wall Street Zen upgraded shares of MNTN from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Tigress Financial reaffirmed a “strong-buy” rating and issued a $36.00 price objective on shares of MNTN in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

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.