MNTN (NYSE:MNTN) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

MNTN (NYSE:MNTN) issued its earnings results on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01), FiscalAI reports. The company had revenue of $73.70 million during the quarter, compared to analyst estimates of $72.63 million. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.

MNTN Stock Performance

NYSE:MNTN traded up $0.78 during mid-day trading on Tuesday, hitting $11.36. The company had a trading volume of 1,441,756 shares, compared to its average volume of 775,294. MNTN has a fifty-two week low of $7.71 and a fifty-two week high of $32.49. The firm has a market cap of $839.49 million and a P/E ratio of -7.33. The business’s fifty day moving average is $9.51 and its two-hundred day moving average is $11.45.

Institutional Trading of MNTN

Hedge funds have recently modified their holdings of the company. Mercato Partners Growth Iii GP LLC acquired a new position in MNTN during the fourth quarter valued at approximately $73,646,000. Wellington Management Group LLP raised its holdings in MNTN by 67.8% in the third quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock worth $99,155,000 after purchasing an additional 2,159,075 shares during the period. Vanguard Group Inc. boosted its position in shares of MNTN by 787.7% during the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock worth $11,527,000 after purchasing an additional 551,392 shares in the last quarter. Mariner LLC acquired a new position in shares of MNTN in the 4th quarter valued at $4,306,000. Finally, JPMorgan Chase & Co. increased its position in shares of MNTN by 7,337.0% in the 4th quarter. JPMorgan Chase & Co. now owns 343,513 shares of the company’s stock valued at $4,102,000 after buying an additional 338,894 shares in the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on MNTN shares. Citigroup lowered their price target on MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Zacks Research downgraded shares of MNTN from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. UBS Group set a $20.50 price objective on shares of MNTN in a report on Tuesday, January 13th. Tigress Financial dropped their target price on shares of MNTN from $36.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Morgan Stanley reduced their target price on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MNTN has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

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.