Susquehanna Issues Pessimistic Forecast for MNTN (NYSE:MNTN) Stock Price

MNTN (NYSE:MNTN) had its price target cut by research analysts at Susquehanna from $20.00 to $12.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna‘s price objective suggests a potential upside of 127.49% from the company’s previous close.

A number of other brokerages have also recently issued reports on MNTN. Tigress Financial cut their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a report on Thursday, August 13th. Weiss Ratings upgraded shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Raymond James Financial downgraded MNTN from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wall Street Zen raised MNTN from a “hold” rating to a “buy” rating in a research note on Monday, September 28th. Finally, Citigroup cut MNTN from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $7.00 in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.15.

MNTN Stock Up 12.2%

NYSE MNTN traded up $0.57 during midday trading on Thursday, hitting $5.28. The company had a trading volume of 3,599,358 shares, compared to its average volume of 594,859. MNTN has a fifty-two week low of $4.60 and a fifty-two week high of $14.89. The stock has a market cap of $326.47 million, a price-to-earnings ratio of 7.23 and a beta of 1.17. The firm has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $9.91.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). The firm had revenue of $80.25 million during the quarter, compared to analyst estimates of $87.77 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS. As a group, equities analysts predict that MNTN will post 0.87 earnings per share for the current year.

Insider Buying and Selling at MNTN

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 6,375,543 shares in the company, valued at $81,288,173.25. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 335,555 shares of company stock worth $4,266,038. 19.60% of the stock is owned by corporate insiders.

Institutional Trading of MNTN

A number of hedge funds have recently bought and sold shares of MNTN. State of Alaska Department of Revenue bought a new stake in shares of MNTN during the 3rd quarter valued at about $26,000. Y Intercept Hong Kong Ltd purchased a new position in shares of MNTN in the first quarter worth approximately $117,000. Chicago Partners Investment Group LLC bought a new stake in MNTN during the first quarter valued at approximately $156,000. Hsbc Holdings PLC grew its position in MNTN by 45.4% during the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock valued at $161,000 after buying an additional 5,720 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in MNTN during the first quarter valued at approximately $162,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN News Roundup

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Susquehanna lowered its price target from $20 to $12 but maintained a positive rating, signaling continued potential upside in the analyst’s view. Susquehanna price target article
• Neutral Sentiment: MNTN announced upcoming investor-conference meetings with its CEO and CFO, offering a chance to address investor concerns, but no new operating developments were disclosed. Investor conference announcement
• Negative Sentiment: Third-quarter results missed estimates: adjusted EPS was $0.10 and revenue was $80.25 million, below analysts’ $87.77 million forecast. MNTN also cut its revenue outlook, citing sales-execution challenges and disruption in its sales organization; it expects fourth-quarter revenue of $75 million to $78 million. Earnings and outlook coverage
• Negative Sentiment: Several law firms have announced investigations into whether MNTN or its executives adequately disclosed sales-force, customer-acquisition and growth issues. These are allegations under investigation, not findings of wrongdoing, but add uncertainty for investors. Robbins LLP investigation notice
• Negative Sentiment: Analyst sentiment also weakened: Evercore downgraded MNTN to “in-line,” while Raymond James and Citizens JMP cut their ratings to “market perform.” Raymond James downgrade

MNTN Company Profile

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.