MNTN Inc. (NYSE:MNTN) Stock Has Average Target Price of $18.65

MNTN Inc. (NYSE:MNTN) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. One investment 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.65.

MNTN has been the topic of several analyst reports. Evercore set a $22.00 target price on MNTN in a research note on Wednesday, August 5th. Wall Street Zen raised shares of MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th. Morgan Stanley set a $16.00 price target on shares of MNTN in a research note on Monday, August 10th. Tigress Financial reduced their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. Finally, Citigroup decreased their price target on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th.

Insider Buying and Selling at MNTN

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction dated 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 sale, the insider owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 335,555 shares of company stock worth $4,266,038. Corporate insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On MNTN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new stake in shares of MNTN in the 1st quarter worth approximately $771,000. Zazove Associates LLC boosted its position in shares of MNTN by 18.7% in the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after buying an additional 23,721 shares in the last quarter. Militia Capital Management LLC acquired a new stake in MNTN in the 1st quarter valued at about $2,362,000. Renaissance Technologies LLC grew its stake in 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 acquiring an additional 187,028 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in MNTN during the 1st quarter valued at about $162,000. 72.90% of the stock is currently owned by institutional investors and hedge funds.

MNTN Price Performance

Shares of MNTN stock opened at $10.43 on Friday. The firm’s fifty day simple moving average is $11.60 and its 200-day simple moving average is $10.06. MNTN has a 12 month low of $7.67 and a 12 month high of $18.60. The stock has a market capitalization of $645.79 million, a price-to-earnings ratio of 14.70 and a beta of 1.15.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). The business had revenue of $82.54 million for the quarter, compared to analysts’ expectations of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.65) earnings per share. Analysts anticipate that MNTN will post 0.87 earnings per share for the current year.

MNTN Company Profile

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN’s services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.