MNTN Inc. (NYSE:MNTN) Stock Has Average Price Target of $18.65 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on MNTN, with 8 buy ratings, 1 strong buy, 2 holds and 1 sell among 12 brokerages. The average 12-month price target is $18.65, well above the stock’s reported $9.88 price.
• MNTN’s latest quarterly revenue rose 20.5% year over year to $82.54 million, slightly exceeding estimates, but earnings per share of $0.09 missed the $0.19 consensus forecast.
• The stock has declined 4.5% and trades below its 50-day moving average, while insiders have sold roughly $4.27 million in shares over the past quarter. Institutional investors and hedge funds own 72.9% of the company.

Shares of MNTN Inc. (NYSE:MNTN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $18.65.

MNTN has been the subject of several research reports. Evercore set a $22.00 price objective on shares of MNTN in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of MNTN from a "hold" rating to a "buy" rating in a report on Monday, September 28th. Citigroup cut their target price on shares of 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 reduced their target price on shares of MNTN from $26.00 to $22.00 and set a "strong-buy" rating on the stock in a report on Thursday, August 13th. Finally, Morgan Stanley set a $16.00 price target on shares of MNTN in a research report on Monday, August 10th.

Insider Buying and Selling at MNTN

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the stock in a transaction 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 $81,288,173.25. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 335,555 shares of company stock valued at $4,266,038 over the last quarter. Insiders own 19.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new position in shares of MNTN in the first quarter worth approximately $771,000. Zazove Associates LLC increased its position in MNTN by 18.7% during the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company's stock valued at $1,323,000 after purchasing an additional 23,721 shares during the period. Militia Capital Management LLC bought a new position in MNTN during the 1st quarter worth approximately $2,362,000. Renaissance Technologies LLC raised its holdings in MNTN by 40.7% during the 1st 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. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MNTN in the 1st quarter worth approximately $162,000. 72.90% of the stock is owned by institutional investors and hedge funds.

MNTN Stock Down 4.5%

NYSE:MNTN opened at $9.88 on Friday. MNTN has a twelve month low of $7.67 and a twelve month high of $18.75. The stock's 50-day simple moving average is $11.54 and its 200 day simple moving average is $10.03. The firm has a market capitalization of $611.16 million, a PE ratio of 13.91 and a beta of 1.15.

MNTN (NYSE:MNTN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $82.34 million. During the same period in the previous year, the firm posted ($0.65) EPS. The firm's revenue was up 20.5% compared to the same quarter last year. On average, analysts anticipate that MNTN will post 0.87 EPS for the current fiscal year.

MNTN Company Profile

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN's services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.

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