MNTN (NYSE:MNTN) Cut to “Hold” at Wall Street Zen

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

MNTN has been the topic of a number of other research reports. Citigroup lowered MNTN from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $7.00 in a research report on Thursday. Susquehanna lowered their target price on MNTN from $20.00 to $12.00 and set a “positive” rating for the company in a report on Thursday, November 5th. UBS Group reiterated a “buy” rating and issued a $9.00 target price on shares of MNTN in a research report on Friday. Evercore lowered MNTN from an “outperform” rating to an “in-line” rating and set a $7.00 price target on the stock. in a research note on Thursday, November 5th. Finally, Freedom Broker initiated coverage on MNTN in a report on Tuesday, November 3rd. They set a “buy” rating and a $16.50 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MNTN has a consensus rating of “Hold” and a consensus target price of $14.15.

MNTN Price Performance

Shares of NYSE:MNTN opened at $5.17 on Friday. MNTN has a one year low of $4.60 and a one year high of $14.89. The company has a market cap of $320.28 million, a price-to-earnings ratio of 13.83 and a beta of 1.17. The firm has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $9.89.

MNTN (NYSE:MNTN) last posted its earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). The company had revenue of $80.25 million for the quarter, compared to the consensus estimate of $87.77 million. MNTN had a return on equity of 18.46% and a net margin of 17.81%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. As a group, analysts expect that MNTN will post 0.64 EPS for the current year.

Insider Activity

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of MNTN stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the transaction, the insider owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 335,555 shares of company stock worth $4,266,038 over the last ninety days. 19.60% of the stock is currently owned by company insiders.

Institutional Trading of MNTN

A number of institutional investors and hedge funds have recently bought and sold shares of MNTN. Mercato Management Legacy LLC bought a new position in MNTN during the 1st quarter worth $54,279,000. Renaissance Technologies LLC grew its position in shares of MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after buying an additional 187,028 shares during the last quarter. Militia Capital Management LLC bought a new stake in shares of MNTN in the 1st quarter valued at about $2,362,000. Russell Investments Group Ltd. increased its stake in shares of MNTN by 1,352.5% in the third quarter. Russell Investments Group Ltd. now owns 180,395 shares of the company’s stock valued at $1,835,000 after buying an additional 167,975 shares during the period. Finally, Zazove Associates LLC increased its stake in shares of MNTN by 18.7% in the first quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock valued at $1,323,000 after buying an additional 23,721 shares during the period. 72.90% of the stock is currently owned by institutional investors and hedge funds.

About MNTN

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.