MNTN (NYSE:MNTN) Shares Climb 7.4% – What’s Next?

Shares of MNTN Inc. (NYSE:MNTN) traded up 7.4% during mid-day trading on Thursday. The company traded as high as $10.00 and last traded at $10.0950. 94,325 shares changed hands during trading, a decline of 90% from the average daily volume of 941,533 shares. The stock had previously closed at $9.40.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Citigroup decreased their price target on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Morgan Stanley set a $16.00 price objective on MNTN in a research report on Monday, August 10th. Wall Street Zen raised MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th. Finally, Tigress Financial decreased their target price on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report 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 given a Sell rating to the company. According to MarketBeat, MNTN has an average rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Performance

The stock’s 50-day moving average price is $11.60 and its 200-day moving average price is $10.09. The company has a market capitalization of $635.02 million, a price-to-earnings ratio of 14.45 and a beta of 1.15.

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

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders sold 335,555 shares of company stock worth $4,266,038 over the last ninety days. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in MNTN during the 3rd quarter valued at about $26,000. Pacer Advisors Inc. acquired a new position in MNTN during the first quarter worth about $771,000. Zazove Associates LLC lifted its holdings in shares of MNTN by 18.7% in the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after purchasing an additional 23,721 shares in the last quarter. Militia Capital Management LLC acquired a new stake in MNTN during the 1st quarter valued at $2,362,000. Finally, Renaissance Technologies LLC grew its holdings in MNTN by 40.7% during the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after buying an additional 187,028 shares during the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

About MNTN

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN’s services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.