MNTN (NYSE:MNTN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MNTN (NYSE:MNTN) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Morgan Stanley set a $16.00 target price on shares of MNTN in a research report on Monday, August 10th. Citigroup decreased their price target on shares of MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Evercore set a $22.00 price objective on shares of MNTN in a report on Wednesday, August 5th. Tigress Financial cut their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 13th. Finally, Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.65.

MNTN Stock Performance

Shares of MNTN stock opened at $11.96 on Friday. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $20.86. The stock has a 50 day simple moving average of $11.22 and a two-hundred day simple moving average of $9.95. The company has a market cap of $740.20 million, a P/E ratio of 16.85 and a beta of 0.94.

MNTN (NYSE:MNTN) last posted its quarterly earnings results 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 business 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 quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.65) earnings per share. On average, research analysts predict that MNTN will post 0.87 earnings per share for the current year.

Insider Buying and Selling at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were 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 of the company’s stock, valued at approximately $81,288,173.25. This trade represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 335,555 shares of company stock valued at $4,266,038 over the last 90 days. 19.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MNTN

A number of institutional investors and hedge funds have recently made changes to their positions in MNTN. California State Teachers Retirement System acquired a new position in MNTN during the 2nd quarter valued at about $55,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of MNTN in the first quarter worth approximately $117,000. Chicago Partners Investment Group LLC purchased a new stake in shares of MNTN in the first quarter worth approximately $156,000. Hsbc Holdings PLC lifted its holdings in shares of MNTN by 45.4% in the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock valued at $161,000 after purchasing an additional 5,720 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of MNTN during the first quarter valued at approximately $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

About MNTN

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN’s services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.