MNTN (NYSE:MNTN) Trading Down 6% – Time to Sell?

Shares of MNTN Inc. (NYSE:MNTN) traded down 6% during trading on Wednesday . The stock traded as low as $12.54 and last traded at $12.4270. Approximately 178,518 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 974,686 shares. The stock had previously closed at $13.22.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MNTN. Tigress Financial decreased their target price on MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a report on Thursday, August 13th. Evercore set a $22.00 target price on shares of MNTN in a report on Wednesday, August 5th. Raymond James Financial reiterated an “outperform” rating and set a $15.00 price target on shares of MNTN in a report on Wednesday, May 6th. Morgan Stanley set a $16.00 price objective on shares of MNTN in a report on Monday, August 10th. Finally, Citizens Jmp lowered their target price on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. One equities 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 assigned a Sell rating to the stock. According to data from MarketBeat, MNTN has an average rating of “Moderate Buy” and an average price target of $18.65.

MNTN Stock Down 5.4%

The company has a market cap of $774.24 million, a price-to-earnings ratio of 17.52 and a beta of 0.71. The business’s fifty day simple moving average is $10.30 and its two-hundred day simple moving average is $9.65.

MNTN (NYSE:MNTN) last posted its 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). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company had revenue of $82.54 million during the quarter, compared to analysts’ expectations of $82.34 million. During the same period last year, the business earned ($0.65) earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Sell-side analysts predict that MNTN Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at MNTN

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the completion of the sale, the insider directly owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MNTN

Several large investors have recently modified their holdings of MNTN. Soros Fund Management LLC purchased a new stake in MNTN in the 2nd quarter valued at $2,187,000. Raymond James Financial Inc. acquired a new stake in shares of MNTN during the second quarter worth about $2,111,000. Bamco Inc. NY purchased a new position in shares of MNTN during the second quarter worth about $1,531,000. Balyasny Asset Management L.P. acquired a new position in MNTN in the 2nd quarter valued at about $3,442,000. Finally, Boothbay Fund Management LLC purchased a new stake in MNTN during the 2nd quarter valued at approximately $2,183,000. 72.90% of the stock is owned by institutional investors and hedge funds.

About MNTN

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.