MNTN (NYSE:MNTN) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

MNTN (NYSE:MNTN) issued its quarterly earnings results on Tuesday. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17, Zacks reports. MNTN had a negative net margin of 16.47% and a negative return on equity of 30.86%.

MNTN Stock Down 1.1%

MNTN stock traded down $0.09 during mid-day trading on Tuesday, hitting $8.13. 1,414,023 shares of the company’s stock traded hands, compared to its average volume of 596,860. MNTN has a one year low of $7.71 and a one year high of $32.49. The firm has a 50 day moving average price of $11.30 and a 200 day moving average price of $16.21. The company has a market cap of $359.59 million and a PE ratio of -5.77.

Analyst Ratings Changes

MNTN has been the subject of a number of research analyst reports. Citigroup upgraded MNTN from a “neutral” rating to a “buy” rating and lowered their price target for the company from $33.00 to $22.00 in a report on Friday, October 24th. Canaccord Genuity Group set a $20.00 price target on shares of MNTN in a research report on Thursday, December 4th. Morgan Stanley lowered their price objective on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. UBS Group set a $20.50 target price on MNTN in a research note on Tuesday, January 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of MNTN in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MNTN presently has an average rating of “Moderate Buy” and a consensus price target of $25.83.

Insiders Place Their Bets

In related news, Director Hadi Partovi sold 86,665 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total value of $1,160,444.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 447,520 shares of company stock valued at $6,005,775 over the last three months.

Institutional Investors Weigh In On MNTN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTN. BNP Paribas Financial Markets boosted its stake in MNTN by 187.4% during the 4th quarter. BNP Paribas Financial Markets now owns 470,699 shares of the company’s stock valued at $5,620,000 after purchasing an additional 306,924 shares in the last quarter. Captrust Financial Advisors bought a new stake in MNTN in the third quarter worth about $5,205,000. Jacobs Levy Equity Management Inc. bought a new position in shares of MNTN during the 3rd quarter valued at about $395,000. Dark Forest Capital Management LP acquired a new position in shares of MNTN in the 3rd quarter worth approximately $464,000. Finally, Qube Research & Technologies Ltd acquired a new stake in MNTN during the third quarter valued at approximately $389,000. Institutional investors own 72.90% of the company’s stock.

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.