Baroda Ventures Llc Sells 33,617 Shares of MNTN (NYSE:MNTN) Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 33,617 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $12.56, for a total transaction of $422,229.52. Following the completion of the sale, the insider directly owned 6,650,658 shares of the company’s stock, valued at $83,532,264.48. The trade was a 0.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The stock was sold at an average price of $12.53, for a total transaction of $336,092.19.

MNTN Stock Up 0.8%

Shares of NYSE MNTN opened at $12.56 on Wednesday. The company has a market capitalization of $777.40 million, a PE ratio of 17.69 and a beta of 0.71. The stock’s 50 day moving average price is $9.88 and its 200-day moving average price is $9.52. MNTN Inc. has a twelve month low of $7.67 and a twelve month high of $23.25.

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

Analysts Set New Price Targets

A number of research firms have recently commented on MNTN. Wall Street Zen cut MNTN from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a report on Thursday, May 28th. Evercore set a $22.00 price objective on shares of MNTN in a research report on Wednesday, August 5th. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 target price on shares of MNTN in a research note on Wednesday, May 6th. Finally, Citigroup decreased their price target on shares of MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.65.

Institutional Investors Weigh In On MNTN

Institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new position in shares of MNTN in the fourth quarter worth about $43,000. Los Angeles Capital Management LLC purchased a new stake in shares of MNTN during the 4th quarter valued at approximately $53,000. Royal Bank of Canada boosted its holdings in MNTN by 2,093.6% in the 4th quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after buying an additional 5,590 shares during the period. JPMorgan Chase & Co. purchased a new position in MNTN in the 3rd quarter valued at approximately $86,000. Finally, Barclays PLC raised its holdings in MNTN by 2,341.4% during the 4th quarter. Barclays PLC now owns 9,326 shares of the company’s stock valued at $111,000 after acquiring an additional 8,944 shares during the period. 72.90% of the stock is owned by hedge funds and other institutional investors.

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.