Manchester Financial Inc. Acquires New Position in MNTN Inc. $MNTN

Manchester Financial Inc. acquired a new stake in MNTN Inc. (NYSE:MNTN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the company’s stock, valued at approximately $2,388,000. Manchester Financial Inc. owned 0.45% of MNTN as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MNTN. Wellington Management Group LLP lifted its stake in shares of MNTN by 67.8% in the third quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock valued at $99,155,000 after purchasing an additional 2,159,075 shares during the period. Vanguard Group Inc. lifted its stake in shares of MNTN by 787.7% in the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock valued at $11,527,000 after purchasing an additional 551,392 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MNTN by 7,337.0% in the fourth quarter. JPMorgan Chase & Co. now owns 343,513 shares of the company’s stock valued at $4,102,000 after purchasing an additional 338,894 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of MNTN by 187.4% in the fourth quarter. BNP Paribas Financial Markets now owns 470,699 shares of the company’s stock valued at $5,620,000 after purchasing an additional 306,924 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of MNTN in the third quarter valued at about $5,205,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Trading Down 0.4%

Shares of MNTN opened at $8.50 on Friday. The stock has a market cap of $518.28 million and a P/E ratio of -283.17. The company has a 50-day moving average of $9.13 and a two-hundred day moving average of $10.22. MNTN Inc. has a 12-month low of $7.67 and a 12-month high of $32.00.

MNTN (NYSE:MNTN) last announced its earnings results on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $73.70 million for the quarter, compared to analyst estimates of $72.63 million. MNTN had a return on equity of 16.44% and a net margin of 7.84%.The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.41) EPS. As a group, analysts forecast that MNTN Inc. will post 0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on MNTN. Citigroup reduced their price objective on shares of MNTN from $22.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Wall Street Zen cut shares of MNTN from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Tigress Financial restated a “strong-buy” rating and set a $26.00 target price on shares of MNTN in a research report on Wednesday, June 3rd. Weiss Ratings upgraded shares of MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, May 28th. Finally, Citizens Jmp cut 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 report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.68.

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.