MNTN (NYSE:MNTN) Director Hadi Partovi Sells 86,665 Shares

MNTN Inc. (NYSE:MNTN) Director Hadi Partovi sold 86,665 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

Hadi Partovi also recently made the following trade(s):

• On Tuesday, December 2nd, Hadi Partovi sold 168,257 shares of MNTN stock. The shares were sold at an average price of $13.39, for a total transaction of $2,252,961.23.
• On Monday, December 1st, Hadi Partovi sold 192,598 shares of MNTN stock. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08.

MNTN Price Performance

MNTN traded up $0.38 during trading hours on Wednesday, hitting $13.68. The company’s stock had a trading volume of 429,402 shares, compared to its average volume of 774,415. MNTN Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $32.49. The business’s 50-day moving average is $15.58.

MNTN (NYSE:MNTN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The business had revenue of $70.00 million during the quarter, compared to the consensus estimate of $70.11 million. MNTN’s revenue for the quarter was up 22.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS purchased a new stake in MNTN in the 3rd quarter worth about $54,000. JPMorgan Chase & Co. purchased a new position in MNTN during the third quarter valued at approximately $86,000. Bank of America Corp DE increased its stake in MNTN by 622,300.0% in the 3rd quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock valued at $115,000 after buying an additional 6,223 shares during the period. Quantbot Technologies LP purchased a new stake in MNTN in the 3rd quarter worth approximately $170,000. Finally, AMH Equity Ltd purchased a new stake in MNTN in the 3rd quarter worth approximately $186,000. 72.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MNTN shares. Needham & Company LLC dropped their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Citigroup upgraded MNTN from a “neutral” rating to a “buy” rating and cut their target price for the stock from $33.00 to $22.00 in a research report on Friday, October 24th. Tigress Financial reaffirmed a “strong-buy” rating and set a $36.00 price target on shares of MNTN in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of MNTN in a research note on Tuesday. Finally, JMP Securities set a $23.00 target price on MNTN in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.15.

MNTN Company Profile

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.