MNTN (NYSE:MNTN) Major Shareholder Baroda Ventures Llc Sells 275,115 Shares

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 6,375,543 shares in the company, valued at $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock 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 shares were sold at an average price of $12.56, for a total value of $422,229.52.
• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The stock was sold at an average price of $12.53, for a total transaction of $336,092.19.

MNTN Price Performance

NYSE:MNTN opened at $12.58 on Friday. The company has a market cap of $778.61 million, a P/E ratio of 17.72 and a beta of 0.71. The firm’s fifty day moving average price is $10.04 and its two-hundred day moving average price is $9.56. MNTN Inc. has a one year low of $7.67 and a one year high of $23.25.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The company had revenue of $82.54 million for 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 business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.65) EPS. As a group, equities research analysts expect that MNTN Inc. will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On MNTN

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. bought a new stake in shares of MNTN during the 1st quarter valued at $771,000. Zazove Associates LLC increased its position in shares of MNTN by 18.7% in the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after purchasing an additional 23,721 shares during the period. Militia Capital Management LLC bought a new position in shares of MNTN in the first quarter worth $2,362,000. Renaissance Technologies LLC raised its stake in MNTN by 40.7% in the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after purchasing an additional 187,028 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in MNTN during the first quarter worth about $162,000. Institutional investors own 72.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MNTN. Wall Street Zen cut MNTN from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Citizens Jmp lowered their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Raymond James Financial reissued an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research report on Wednesday, May 6th. Finally, Citigroup lowered their price target on shares of MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.65.

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.