Key Points
- Hadi Partovi, a MNTN director, sold 86,665 shares on Dec 3 at $13.39 (≈$1.16M) and additionally sold 168,257 on Dec 2 and 192,598 on Dec 1, totaling about 447,520 shares for roughly $6.0M in proceeds.
- MNTN shares opened at $13.68 (up 2.9%), trading near their 12‑month low of $13.00 with a 50‑day average of $15.49; analysts have a consensus rating of "Moderate Buy" and a $27.15 consensus price target.
- Institutional ownership is high at 72.9%, with large recent additions by Wellington Management and Vanguard, indicating significant hedge fund and institutional interest.
MNTN Inc. (NYSE:MNTN - Get Free Report) Director Hadi Partovi sold 86,665 shares of the company's stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $13.39, for a total transaction of $1,160,444.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Hadi Partovi also recently made the following trade(s):
- On Tuesday, December 2nd, Hadi Partovi sold 168,257 shares of MNTN stock. The shares were sold at an average price of $13.39, for a total value of $2,252,961.23.
- On Monday, December 1st, Hadi Partovi sold 192,598 shares of MNTN stock. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08.
MNTN Trading Up 2.9%
MNTN stock opened at $13.68 on Thursday. The company has a fifty day moving average price of $15.49. MNTN Inc. has a 12-month low of $13.00 and a 12-month high of $32.49.
MNTN (NYSE:MNTN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. The business had revenue of $70.00 million for the quarter, compared to analysts' expectations of $70.11 million. The company's revenue was up 22.6% compared to the same quarter last year.
Analysts Set New Price Targets
Several equities analysts have commented on MNTN shares. Cowen raised shares of MNTN to a "buy" rating in a research report on Thursday. Citigroup raised MNTN from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $33.00 to $22.00 in a research note on Friday, October 24th. Wall Street Zen raised MNTN from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. Canaccord Genuity Group reissued a "buy" rating on shares of MNTN in a research report on Thursday. Finally, Morgan Stanley set a $22.50 target price on shares of MNTN in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, MNTN has a consensus rating of "Moderate Buy" and a consensus price target of $27.15.
View Our Latest Stock Report on MNTN
Hedge Funds Weigh In On MNTN
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in MNTN by 67.8% in the third quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company's stock valued at $99,155,000 after purchasing an additional 2,159,075 shares during the last quarter. Vanguard Group Inc. grew its position in shares of MNTN by 787.7% in the 3rd quarter. Vanguard Group Inc. now owns 621,392 shares of the company's stock valued at $11,527,000 after buying an additional 551,392 shares during the last quarter. Federated Hermes Inc. acquired a new stake in MNTN during the 2nd quarter worth $11,482,000. G2 Investment Partners Management LLC purchased a new stake in MNTN in the second quarter valued at $6,996,000. Finally, Captrust Financial Advisors acquired a new position in MNTN in the third quarter valued at $5,205,000. 72.90% of the stock is owned by institutional investors and hedge funds.
MNTN Company Profile
(
Get Free Report)
MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.
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