Pacer Advisors Inc. Buys New Position in MNTN Inc. $MNTN

Pacer Advisors Inc. purchased a new stake in MNTN Inc. (NYSE:MNTN) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,580 shares of the company’s stock, valued at approximately $771,000. Pacer Advisors Inc. owned about 0.14% of MNTN at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Soros Fund Management LLC bought a new stake in shares of MNTN in the 2nd quarter worth $2,187,000. Raymond James Financial Inc. bought a new position in shares of MNTN during the second quarter valued at about $2,111,000. Bamco Inc. NY purchased a new position in MNTN during the second quarter worth about $1,531,000. Balyasny Asset Management L.P. purchased a new position in MNTN during the second quarter worth about $3,442,000. Finally, Boothbay Fund Management LLC bought a new stake in MNTN in the 2nd quarter worth about $2,183,000. 72.90% of the stock is currently owned by institutional investors.

MNTN Trading Up 3.4%

NYSE:MNTN opened at $11.49 on Tuesday. The stock has a market capitalization of $701.00 million, a PE ratio of 16.18 and a beta of 0.71. The firm’s 50 day moving average is $9.56 and its 200 day moving average is $9.43. MNTN Inc. has a 12 month low of $7.67 and a 12 month high of $23.86.

Analyst Upgrades and Downgrades

MNTN has been the topic of several recent analyst reports. Wall Street Zen cut shares of MNTN from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Tigress Financial reaffirmed a “strong-buy” rating and issued a $26.00 target price on shares of MNTN in a report on Wednesday, June 3rd. Morgan Stanley set a $16.00 price target on MNTN in a report on Monday. Citizens Jmp cut their price objective on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MNTN presently has a consensus rating of “Moderate Buy” and an average price target of $19.15.

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.