MNTN (NYSE:MNTN) Stock Picked Up by Analysts at Freedom Broker

Key Points

• Freedom Broker initiated coverage of MNTN with a “buy” rating and a $16.50 price target, implying approximately 75.6% upside from the reported $9.39 share price.
• Analyst sentiment is generally positive: MNTN has a consensus “Moderate Buy” rating and an average price target of $18.45, despite several analysts recently lowering their targets.
• MNTN’s latest quarterly revenue rose 20.5% year over year to $82.54 million, but earnings per share of $0.09 fell short of the $0.19 consensus estimate; insiders have also sold about $4.27 million of stock over the past quarter.

Equities research analysts at Freedom Broker started coverage on shares of MNTN (NYSE:MNTN - Get Free Report) in a report released on Tuesday, Benzinga reports. The firm set a "buy" rating and a $16.50 price target on the stock. Freedom Broker's price objective points to a potential upside of 75.64% from the stock's current price.

Several other research analysts have also weighed in on the company. Citigroup dropped their price target on 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 price objective on MNTN from $26.00 to $22.00 and set a "strong-buy" rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised MNTN from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Wall Street Zen upgraded MNTN from a "hold" rating to a "buy" rating in a report on Monday, September 28th. Finally, Morgan Stanley set a $16.00 price target on shares of MNTN in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.45.

MNTN Stock Up 0.5%

NYSE:MNTN opened at $9.39 on Tuesday. MNTN has a 1-year low of $7.67 and a 1-year high of $16.91. The stock has a fifty day simple moving average of $10.99 and a 200 day simple moving average of $9.98. The firm has a market capitalization of $581.39 million, a price-to-earnings ratio of 13.26 and a beta of 1.15.

MNTN (NYSE:MNTN - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.10). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The firm had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same quarter in the prior year, the firm earned ($0.65) EPS. The firm's revenue was up 20.5% compared to the same quarter last year. Equities analysts predict that MNTN will post 0.87 earnings per share for the current year.

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 that occurred 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 completion of the sale, the insider directly owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MNTN

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in shares of MNTN in the third quarter valued at about $26,000. Hsbc Holdings PLC lifted its position in shares of MNTN by 45.4% during the 1st quarter. Hsbc Holdings PLC now owns 18,311 shares of the company's stock worth $161,000 after purchasing an additional 5,720 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MNTN during the 1st quarter worth about $117,000. Chicago Partners Investment Group LLC acquired a new position in shares of MNTN during the 1st quarter worth about $156,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in MNTN during the 1st quarter valued at approximately $162,000. Institutional investors and hedge funds own 72.90% of the company's stock.

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.

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