MNTN (NYSE:MNTN) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of MNTN (NYSE:MNTN) from a buy rating to a hold rating in a research report released on Sunday morning,Wall Street Zen reports.

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

MNTN Stock Down 0.1%

MNTN stock opened at $11.28 on Friday. MNTN has a 52-week low of $7.67 and a 52-week high of $20.84. The firm has a market cap of $698.18 million, a PE ratio of 15.89 and a beta of 0.94. The company’s 50 day moving average is $11.27 and its two-hundred day moving average is $10.00.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). MNTN had a return on equity of 18.85% and a net margin of 18.00%.The business had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. During the same quarter last year, the firm earned ($0.65) EPS. The business’s revenue was up 20.5% on a year-over-year basis. On average, equities research analysts anticipate that MNTN will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the 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 owned 6,375,543 shares of the company’s stock, valued at $81,288,173.25. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 335,555 shares of company stock valued at $4,266,038 over the last 90 days. Corporate insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MNTN. Mercato Management Legacy LLC acquired a new stake in shares of MNTN during the 1st quarter worth about $54,279,000. Renaissance Technologies LLC boosted its holdings in MNTN by 40.7% in the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after purchasing an additional 187,028 shares in the last quarter. UBS Group AG increased its stake in MNTN by 142.1% in the fourth quarter. UBS Group AG now owns 288,267 shares of the company’s stock valued at $3,442,000 after purchasing an additional 169,218 shares during the last quarter. Manchester Financial Inc. purchased a new position in MNTN in the fourth quarter valued at approximately $2,388,000. Finally, Militia Capital Management LLC acquired a new stake in MNTN during the first quarter worth approximately $2,362,000. 72.90% of the stock is owned by institutional investors and hedge funds.

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.