MNTN Inc. (NYSE:MNTN) Sees Large Decline in Short Interest

MNTN Inc. (NYSE:MNTN) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 1,581,054 shares, a decrease of 21.3% from the February 12th total of 2,009,073 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average daily trading volume, of 836,419 shares, the short-interest ratio is presently 1.9 days. Based on an average daily trading volume, of 836,419 shares, the short-interest ratio is presently 1.9 days. Approximately 2.1% of the company’s shares are sold short.

MNTN Stock Performance

MNTN stock traded up $0.24 during midday trading on Monday, reaching $9.81. The stock had a trading volume of 533,553 shares, compared to its average volume of 734,491. The stock’s 50-day simple moving average is $10.16 and its 200 day simple moving average is $13.68. MNTN has a twelve month low of $7.71 and a twelve month high of $32.49. The stock has a market capitalization of $724.30 million and a PE ratio of -6.33.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The company had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.MNTN’s revenue for the quarter was up 24.8% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lowered their target price on shares of MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Canaccord Genuity Group set a $20.00 price target on MNTN in a research note on Thursday, December 4th. Susquehanna lowered their price target on MNTN from $38.00 to $20.00 and set a “positive” rating for the company in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of MNTN in a report on Monday, December 29th. Finally, Zacks Research cut shares of MNTN from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS purchased a new stake in MNTN during the third quarter worth approximately $54,000. Aster Capital Management DIFC Ltd purchased a new position in shares of MNTN in the 4th quarter valued at $43,000. Los Angeles Capital Management LLC acquired a new position in shares of MNTN during the 4th quarter valued at $53,000. JPMorgan Chase & Co. purchased a new stake in MNTN during the 3rd quarter worth $86,000. Finally, Cary Street Partners Financial LLC increased its holdings in MNTN by 29.5% in the 4th quarter. Cary Street Partners Financial LLC now owns 20,385 shares of the company’s stock valued at $243,000 after purchasing an additional 4,640 shares in the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.

About MNTN

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.