Brokerages Set MNTN Inc. (NYSE:MNTN) Target Price at $18.65

Shares of MNTN Inc. (NYSE:MNTN) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.65.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley set a $16.00 price target on shares of MNTN in a research note on Monday, August 10th. Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Tigress Financial dropped their target price on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 13th. Citigroup reduced their price target on MNTN from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Evercore set a $22.00 price target on MNTN in a research note on Wednesday, August 5th.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 6,375,543 shares of the company’s stock, valued at $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 335,555 shares of company stock valued at $4,266,038 in the last ninety days. 19.60% of the stock is owned by insiders.

Institutional Investors Weigh In On MNTN

Several institutional investors and hedge funds have recently modified their holdings of MNTN. Y Intercept Hong Kong Ltd acquired a new stake in shares of MNTN in the first quarter worth about $117,000. Modus Advisors LLC acquired a new position in shares of MNTN during the 4th quarter valued at about $176,000. Aristides Capital LLC bought a new position in shares of MNTN in the 4th quarter valued at approximately $191,000. Chicago Partners Investment Group LLC acquired a new stake in MNTN in the 1st quarter worth approximately $156,000. Finally, Hsbc Holdings PLC boosted its position in MNTN by 45.4% during the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock worth $161,000 after purchasing an additional 5,720 shares during the period. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Stock Performance

MNTN stock opened at $11.77 on Wednesday. The firm has a 50 day simple moving average of $11.23 and a 200 day simple moving average of $9.96. MNTN has a 52 week low of $7.67 and a 52 week high of $20.86. The stock has a market cap of $728.45 million, a P/E ratio of 16.58 and a beta of 0.94.

MNTN (NYSE:MNTN) last released its quarterly earnings data 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). The company had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.65) EPS. Sell-side analysts predict that MNTN will post 0.87 EPS for the current year.

MNTN Company Profile

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.