Baroda Ventures Llc Sells 26,823 Shares of MNTN (NYSE:MNTN) Stock

Key Points

• Baroda Ventures sold 26,823 MNTN shares for $336,092 at an average price of $12.53, reducing its position by 0.40% to 6.68 million shares. The investor also sold another 33,617 shares the following day.
• 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 expectations of $0.19.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $18.65, while MNTN shares recently traded at $12.45. Institutional investors own approximately 72.9% of the stock.

MNTN Inc. (NYSE:MNTN - Get Free Report) major shareholder Baroda Ventures Llc sold 26,823 shares of the firm's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $12.53, for a total value of $336,092.19. Following the transaction, the insider directly owned 6,684,275 shares of the company's stock, valued at $83,753,965.75. This represents a 0.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases 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 transaction of $422,229.52.

MNTN Stock Performance

NYSE MNTN traded down $0.07 on Monday, reaching $12.45. The company's stock had a trading volume of 991,418 shares, compared to its average volume of 1,175,375. MNTN Inc. has a twelve month low of $7.67 and a twelve month high of $23.25. The firm's 50 day moving average is $9.80 and its two-hundred day moving average is $9.50. The stock has a market cap of $770.53 million, a PE ratio of 17.54 and a beta of 0.71.

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

Analyst Ratings Changes

MNTN has been the subject of a number of recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $15.00 price objective on shares of MNTN in a research report on Wednesday, May 6th. Citigroup cut their target price on MNTN from $17.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday. Citizens Jmp reduced their target price on MNTN from $23.00 to $19.00 and set a "market outperform" rating for the company in a report on Wednesday, May 6th. Wall Street Zen cut MNTN from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Evercore set a $22.00 price objective on MNTN in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.65.

Institutional Investors Weigh In On MNTN

Several hedge funds have recently bought and sold shares of MNTN. Mercato Management Legacy LLC purchased a new stake in shares of MNTN in the first quarter worth approximately $54,279,000. Mercato Partners Growth Iii GP LLC purchased a new position in MNTN during the fourth quarter valued at approximately $73,646,000. Wellington Management Group LLP increased its stake in MNTN by 67.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company's stock valued at $99,155,000 after buying an additional 2,159,075 shares during the period. Vanguard Group Inc. increased its stake in 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 period. Finally, Mariner LLC purchased a new stake in MNTN in the 4th quarter worth approximately $4,306,000. 72.90% of the stock is owned by hedge funds and other 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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