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

Key Points

• Wall Street Zen upgraded MNTN from “hold” to “buy,” adding to a consensus “Moderate Buy” rating. Analysts’ average price target is $18.65, versus a recent share price of $11.03.
• MNTN reported quarterly revenue of $82.54 million, up 20.5% year over year and slightly above estimates, but adjusted EPS of $0.09 missed the $0.19 consensus forecast.
• Institutional investors own 72.9% of MNTN, while insiders own 19.6%; a major shareholder recently sold 275,115 shares for approximately $3.5 million.

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

MNTN has been the subject of several other research reports. Morgan Stanley set a $16.00 price target on shares of MNTN in a research report on Monday, August 10th. Citigroup decreased their price objective on MNTN from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, August 13th. Evercore set a $22.00 price objective on MNTN in a research note on Wednesday, August 5th. Weiss Ratings raised MNTN from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, August 19th. Finally, Tigress Financial cut their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, MNTN currently has an average rating of "Moderate Buy" and an average target price of $18.65.

MNTN Price Performance

Shares of MNTN stock opened at $11.03 on Monday. MNTN has a one year low of $7.67 and a one year high of $18.96. The stock has a fifty day moving average price of $11.38 and a 200 day moving average price of $10.02. The stock has a market cap of $682.77 million, a P/E ratio of 15.54 and a beta of 0.94.

MNTN (NYSE:MNTN - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company's quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.65) EPS. Equities research analysts anticipate that MNTN will post 0.87 EPS for the current year.

Insider Buying and Selling

In other MNTN 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 value of $3,507,716.25. Following the transaction, the insider directly owned 6,375,543 shares in the company, valued at $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 hyperlink. Insiders have sold 335,555 shares of company stock valued at $4,266,038 in the last quarter. 19.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MNTN. Mercato Management Legacy LLC bought a new stake in MNTN during the 1st quarter worth approximately $54,279,000. Pacer Advisors Inc. bought a new position in MNTN in the 1st quarter valued at $771,000. Militia Capital Management LLC bought a new position in MNTN in the 1st quarter valued at $2,362,000. Manchester Financial Inc. acquired a new position in MNTN in the fourth quarter worth $2,388,000. Finally, Renaissance Technologies LLC grew its holdings in shares of MNTN by 40.7% during the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company's stock worth $5,687,000 after purchasing an additional 187,028 shares during the last quarter. Institutional investors own 72.90% of the company's stock.

About MNTN

MNTN, Inc is an advertising technology company that provides a software platform for buying, managing and measuring connected television (CTV) advertising. Its platform is designed to help brands use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN's services include campaign planning, audience targeting, automated media buying, creative support, attribution and performance reporting. The company combines access to streaming television inventory with tools intended to make television advertising more accessible to growth-focused businesses and advertising agencies.

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