Baroda Ventures Llc Sells 26,823 Shares of MNTN (NYSE:MNTN) Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 26,823 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $12.53, for a total transaction of $336,092.19. Following the completion of the sale, the insider directly owned 6,684,275 shares in the company, valued at approximately $83,753,965.75. This represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The stock was sold at an average price of $12.56, for a total value of $422,229.52.

MNTN Trading Up 0.8%

NYSE MNTN opened at $12.56 on Wednesday. The business’s 50-day moving average price is $9.88 and its two-hundred day moving average price is $9.52. MNTN Inc. has a 12 month low of $7.67 and a 12 month high of $23.25. The firm has a market capitalization of $777.40 million, a PE ratio of 17.69 and a beta of 0.71.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The company had revenue of $82.54 million for the quarter, compared to the consensus estimate 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 quarter last year, the business earned ($0.65) earnings per share. As a group, analysts forecast that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MNTN shares. Citigroup decreased their price objective on shares of MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $15.00 price target on shares of MNTN in a research report on Wednesday, May 6th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Morgan Stanley set a $16.00 target price on MNTN in a research report on Monday, August 10th. Finally, Citizens Jmp decreased their target price on 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 investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.65.

Institutional Investors Weigh In On MNTN

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

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.