MNTN Inc. (NYSE:MNTN) Stock Has Consensus Target Price of $18.65

Key Points

• Analysts hold a “Moderate Buy” consensus on MNTN, with eight buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $18.65, nearly double the stock’s $9.65 opening price.
• 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 consensus by $0.10.
• Insiders have recently sold shares, including a 275,115-share sale by Baroda Ventures, while institutional investors own a substantial 72.9% of the stock.

Shares of MNTN Inc. (NYSE:MNTN - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.65.

A number of research analysts have issued reports on MNTN shares. Citigroup cut their price target on shares of MNTN from $17.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, August 13th. Wall Street Zen upgraded shares of MNTN from a "hold" rating to a "buy" rating in a research note on Monday, September 28th. Evercore set a $22.00 price objective on shares of MNTN in a report on Wednesday, August 5th. Tigress Financial cut their target price on MNTN from $26.00 to $22.00 and set a "strong-buy" rating on the stock in a research report on Thursday, August 13th. Finally, Morgan Stanley set a $16.00 target price on MNTN in a research report on Monday, August 10th.

MNTN Stock Up 2.3%

MNTN opened at $9.65 on Thursday. The company has a market cap of $597.55 million, a P/E ratio of 13.60 and a beta of 1.15. The firm's 50-day moving average price is $11.19 and its 200-day moving average price is $10.02. MNTN has a 52-week low of $7.67 and a 52-week high of $17.06.

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). The company had revenue of $82.54 million during the quarter, compared to analyst estimates of $82.34 million. MNTN had a return on equity of 18.85% and a net margin of 18.00%. The firm's revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.65) earnings per share. On average, research analysts anticipate that MNTN will post 0.87 EPS for the current fiscal 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 stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the sale, the insider owned 6,375,543 shares in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 335,555 shares of company stock worth $4,266,038. Insiders own 19.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Mercato Management Legacy LLC purchased a new stake in MNTN in the first quarter valued at $54,279,000. Militia Capital Management LLC acquired a new position in shares of MNTN in the 1st quarter valued at about $2,362,000. Renaissance Technologies LLC lifted its holdings in shares of MNTN by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 646,217 shares of the company's stock valued at $5,687,000 after buying an additional 187,028 shares during the period. Pacer Advisors Inc. acquired a new position in shares of MNTN in the 1st quarter valued at about $771,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of MNTN by 95.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 145,491 shares of the company's stock worth $1,280,000 after buying an additional 71,114 shares during the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

About MNTN

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company's products support campaign creation, audience targeting, media buying and analytics across streaming television environments.

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