MNTN (NYSE:MNTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MNTN (NYSE:MNTN) from a hold rating to a buy rating in a research report sent to investors on Monday morning,Wall Street Zen reports.

MNTN has been the topic of several other reports. Weiss Ratings raised shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Citigroup dropped their price objective on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Tigress Financial cut their target price on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 13th. Morgan Stanley set a $16.00 target price on MNTN in a report on Monday, August 10th. Finally, Evercore set a $22.00 price target on MNTN in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Down 1.6%

Shares of MNTN opened at $10.21 on Monday. The stock has a 50 day moving average price of $11.47 and a 200 day moving average price of $10.03. The company has a market capitalization of $631.65 million, a price-to-earnings ratio of 14.37 and a beta of 0.94. MNTN has a 52-week low of $7.67 and a 52-week high of $18.75.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). MNTN had a return on equity of 18.85% and a net margin of 18.00%.The company had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same period in the previous year, the business posted ($0.65) EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, equities analysts anticipate that MNTN will post 0.87 EPS for the current fiscal year.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of MNTN stock in a transaction on Tuesday, August 18th. The shares were 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 approximately $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 335,555 shares of company stock worth $4,266,038. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On MNTN

Hedge funds have recently made changes to their positions in the business. Mercato Management Legacy LLC acquired a new stake in MNTN during the 1st quarter worth approximately $54,279,000. Pacer Advisors Inc. acquired a new position in shares of MNTN in the first quarter valued at approximately $771,000. Militia Capital Management LLC purchased a new stake in shares of MNTN during the first quarter worth approximately $2,362,000. Manchester Financial Inc. purchased a new stake in shares of MNTN during the fourth quarter worth approximately $2,388,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of MNTN by 40.7% during the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after purchasing an additional 187,028 shares during the period. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Company Profile

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.