MNTN (NYSE:MNTN) Shares Up 5.7% – Should You Buy?

MNTN Inc. (NYSE:MNTN)’s stock price shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $12.97 and last traded at $13.1760. 184,725 shares changed hands during trading, a decline of 81% from the average session volume of 974,161 shares. The stock had previously closed at $12.46.

Analysts Set New Price Targets

MNTN has been the subject of a number of research analyst reports. Tigress Financial dropped their target price on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday. Evercore set a $22.00 price objective on MNTN in a research report on Wednesday, August 5th. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Wall Street Zen cut MNTN from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MNTN currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Performance

The business’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $9.50. The stock has a market cap of $815.75 million, a price-to-earnings ratio of 18.56 and a beta of 0.71.

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

Insider Buying and Selling

In other MNTN news, major shareholder Baroda Ventures Llc sold 33,617 shares of the firm’s stock in a transaction that occurred on 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 owned 6,650,658 shares in the company, valued at $83,532,264.48. This trade represents a 0.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On MNTN

A number of institutional investors have recently made changes to their positions in the business. Mercato Management Legacy LLC purchased a new position in shares of MNTN during the 1st quarter valued at approximately $54,279,000. Militia Capital Management LLC bought a new stake in shares of MNTN in the first quarter worth $2,284,000. Pacer Advisors Inc. acquired a new stake in MNTN in the first quarter valued at $771,000. Manchester Financial Inc. bought a new position in MNTN during the 4th quarter valued at $2,388,000. Finally, UBS Group AG boosted its stake in MNTN by 142.1% during the 4th quarter. UBS Group AG now owns 288,267 shares of the company’s stock valued at $3,442,000 after acquiring an additional 169,218 shares during the last quarter. 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.