MNTN (NYSE:MNTN) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded MNTN from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating and an average price target of $18.65, compared with its recent price of $11.79.
• MNTN reported quarterly revenue of $82.54 million, up 20.5% year over year and slightly above expectations, but earnings per share of $0.09 missed the $0.19 consensus estimate.
• Institutional ownership stands at 72.90%, with several hedge funds initiating positions, while insiders have sold $4.27 million of stock over the past 90 days.

MNTN (NYSE:MNTN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently issued reports on MNTN. Citigroup decreased their price objective on MNTN from $17.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, August 13th. Evercore set a $22.00 target price on shares of MNTN in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of MNTN from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Morgan Stanley set a $16.00 price target on shares of MNTN in a research report on Monday, August 10th. Finally, Tigress Financial dropped their price objective 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 investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MNTN currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.65.

MNTN Price Performance

Shares of MNTN opened at $11.79 on Friday. The company has a 50-day simple moving average of $11.21 and a two-hundred day simple moving average of $9.93. The firm has a market capitalization of $729.56 million, a PE ratio of 16.60 and a beta of 0.94. MNTN has a one year low of $7.67 and a one year high of $20.86.

MNTN (NYSE:MNTN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.10). The firm 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 firm's revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.65) EPS. Analysts expect that MNTN will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company'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 transaction, the insider owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 335,555 shares of company stock valued at $4,266,038. 19.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Soros Fund Management LLC purchased a new position in MNTN during the second quarter valued at $2,187,000. Raymond James Financial Inc. purchased a new stake in MNTN during the second quarter valued at approximately $2,111,000. Bamco Inc. NY bought a new stake in shares of MNTN in the 2nd quarter valued at approximately $1,531,000. Balyasny Asset Management L.P. purchased a new position in shares of MNTN in the 2nd quarter worth approximately $3,442,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of MNTN in the 2nd quarter worth approximately $2,183,000. 72.90% of the stock is currently owned by institutional investors.

MNTN Company Profile

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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