Baroda Ventures Llc Sells 33,617 Shares of MNTN (NYSE:MNTN) Stock

Key Points

• Baroda Ventures LLC sold 33,617 MNTN shares at an average price of $12.56, generating $422,229.52. Its remaining stake totals 6.65 million shares, a 0.50% reduction.
• MNTN shares traded at $12.45, with a market capitalization of approximately $770.5 million. The stock remains below its 52-week high of $23.25 but above its 52-week low of $7.67.
• MNTN’s latest quarterly revenue rose 20.5% year over year to $82.54 million, though adjusted earnings of $0.09 per share missed analysts’ $0.19 estimate. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $18.65.

MNTN Inc. (NYSE:MNTN - Get Free Report) major shareholder Baroda Ventures Llc sold 33,617 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $12.56, for a total transaction of $422,229.52. Following the sale, the insider owned 6,650,658 shares of the company's stock, valued at $83,532,264.48. This represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The stock was sold at an average price of $12.53, for a total value of $336,092.19.

MNTN Price Performance

Shares of NYSE:MNTN traded down $0.07 during midday trading on Monday, reaching $12.45. 991,418 shares of the company's stock were exchanged, compared to its average volume of 1,175,375. The stock has a market cap of $770.53 million, a price-to-earnings ratio of 17.15 and a beta of 0.71. MNTN Inc. has a fifty-two week low of $7.67 and a fifty-two week high of $23.25. The firm's 50 day simple moving average is $9.80 and its two-hundred day simple moving average is $9.50.

MNTN (NYSE:MNTN - Get Free Report) last announced its quarterly 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). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company 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 business earned ($0.65) earnings per share. MNTN's revenue was up 20.5% on a year-over-year basis. Equities research analysts predict that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MNTN. Tigress Financial cut their price objective on MNTN from $26.00 to $22.00 and set a "strong-buy" rating on the stock in a report on Thursday. Citizens Jmp cut 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. Morgan Stanley set a $16.00 price objective on shares of MNTN in a research note on Monday, August 10th. Raymond James Financial reaffirmed an "outperform" rating and set a $15.00 target price on shares of MNTN in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of MNTN from a "buy" rating to a "hold" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNTN. Aster Capital Management DIFC Ltd acquired a new stake in shares of MNTN in the 4th quarter valued at $43,000. Los Angeles Capital Management LLC purchased a new position in MNTN in the fourth quarter valued at $53,000. Royal Bank of Canada increased its holdings in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock valued at $70,000 after buying an additional 5,590 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in MNTN in the third quarter valued at $86,000. Finally, Barclays PLC lifted its holdings in MNTN by 2,341.4% during the 4th quarter. Barclays PLC now owns 9,326 shares of the company's stock worth $111,000 after buying an additional 8,944 shares during the last quarter. Institutional investors and hedge funds own 72.90% of the company's stock.

About MNTN

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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