Key Points
- Major shareholder Baroda Ventures sold 275,115 MNTN shares at an average price of $12.75, generating approximately $3.51 million. The sale reduced its ownership by 4.14%, leaving it with 6.38 million shares.
- MNTN reported quarterly revenue of $82.54 million, up 20.5% year over year and slightly above estimates, but earnings per share of $0.09 missed the $0.19 consensus forecast.
- Analysts maintain a “Moderate Buy” consensus rating with an average price target of $18.65, while institutional investors own 72.9% of MNTN’s outstanding shares.
MNTN Inc. (NYSE:MNTN - Get Free Report) major shareholder Baroda Ventures Llc sold 275,115 shares of MNTN stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 6,375,543 shares in the company, valued at $81,288,173.25. This trade represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Baroda Ventures Llc also recently made the following trade(s):
- On Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The stock was sold at an average price of $12.56, for a total value of $422,229.52.
- On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The shares were sold at an average price of $12.53, for a total value of $336,092.19.
MNTN Stock Performance
Shares of MNTN opened at $12.58 on Friday. MNTN Inc. has a 52-week low of $7.67 and a 52-week high of $23.25. The firm has a market cap of $778.61 million, a price-to-earnings ratio of 17.72 and a beta of 0.71. The business's fifty day moving average is $10.04 and its 200-day moving average is $9.56.
MNTN (NYSE:MNTN - Get Free Report) last announced 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 business had revenue of $82.54 million for the quarter, compared to the consensus estimate of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%.MNTN's quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.65) earnings per share. As a group, research analysts forecast that MNTN Inc. will post 0.87 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Citizens Jmp reduced their price target on shares of MNTN from $23.00 to $19.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of MNTN from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Citigroup cut their target price on shares of MNTN from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Tigress Financial decreased 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. Finally, Weiss Ratings upgraded MNTN from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.65.
Read Our Latest Stock Analysis on MNTN
Institutional Trading of MNTN
Hedge funds and other institutional investors have recently made changes to their positions in the company. Soros Fund Management LLC bought a new stake in MNTN during the 2nd quarter worth approximately $2,187,000. Raymond James Financial Inc. bought a new position in shares of MNTN during the second quarter valued at $2,111,000. Bamco Inc. NY acquired a new position in shares of MNTN during the second quarter worth $1,531,000. Balyasny Asset Management L.P. bought a new stake in shares of MNTN in the second quarter worth $3,442,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of MNTN in the second quarter worth $2,183,000. 72.90% of the stock is currently owned by institutional investors.
MNTN Company Profile
(
Get Free Report)
MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.
The company's core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.
Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.
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