Fortress Investment Group LLC Sells 62,050 Shares of MNTN Inc. $MNTN

Fortress Investment Group LLC trimmed its holdings in shares of MNTN Inc. (NYSE:MNTN) by 56.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,613 shares of the company’s stock after selling 62,050 shares during the period. Fortress Investment Group LLC’s holdings in MNTN were worth $902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Liontrust Investment Partners LLP bought a new stake in MNTN during the second quarter worth about $3,170,000. Federated Hermes Inc. grew its stake in MNTN by 23.8% in the third quarter. Federated Hermes Inc. now owns 650,000 shares of the company’s stock valued at $12,058,000 after purchasing an additional 125,000 shares in the last quarter. G2 Investment Partners Management LLC bought a new position in MNTN in the second quarter valued at approximately $6,996,000. HBK Investments L P acquired a new position in shares of MNTN during the 2nd quarter worth approximately $2,187,000. Finally, Pier Capital LLC bought a new stake in shares of MNTN during the 3rd quarter worth approximately $4,211,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group set a $20.00 price objective on MNTN in a report on Thursday, December 4th. Susquehanna dropped their price target on shares of MNTN from $38.00 to $20.00 and set a “positive” rating on the stock in a research report on Wednesday, February 11th. Tigress Financial cut their price target on shares of MNTN from $36.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. UBS Group set a $20.50 price objective on shares of MNTN in a research report on Tuesday, January 13th. Finally, Evercore set a $27.00 target price on shares of MNTN in a report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MNTN currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.55.

MNTN Trading Down 2.3%

MNTN stock opened at $9.58 on Monday. MNTN Inc. has a 1-year low of $7.71 and a 1-year high of $32.49. The business’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $13.75. The firm has a market capitalization of $707.90 million and a PE ratio of -6.18.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The business had revenue of $87.10 million during the quarter, compared to the consensus estimate of $86.18 million. The company’s quarterly revenue was up 24.8% compared to the same quarter last year.

MNTN 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.