MNTN (NYSE:MNTN) Major Shareholder Baroda Ventures Llc Sells 275,115 Shares of Stock

Key Points

• Baroda Ventures sold 275,115 MNTN shares at an average price of $12.75, generating approximately $3.51 million. The sale reduced its stake by 4.14%, leaving it with 6.38 million shares valued at about $81.3 million.
• MNTN shares fell 1.9% to $12.58. The company’s latest quarterly EPS of $0.09 missed analyst expectations of $0.19, although revenue rose 20.5% year over year to $82.54 million.
• Analysts maintain a generally positive outlook, with MNTN carrying a “Moderate Buy” consensus rating and an average price target of $18.65, versus the current share price.

MNTN Inc. (NYSE:MNTN - Get Free Report) 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 transaction of $3,507,716.25. Following the completion of the sale, the insider owned 6,375,543 shares of the company's stock, valued at approximately $81,288,173.25. This represents a 4.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions 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 shares were sold at an average price of $12.56, for a total value of $422,229.52.
• 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 transaction of $336,092.19.

MNTN Trading Down 1.9%

Shares of NYSE:MNTN traded down $0.24 during trading on Thursday, reaching $12.58. The stock had a trading volume of 896,493 shares, compared to its average volume of 984,040. MNTN Inc. has a one year low of $7.67 and a one year high of $23.25. The firm's 50-day simple moving average is $9.96 and its 200 day simple moving average is $9.54. The company has a market capitalization of $778.58 million, a P/E ratio of 17.72 and a beta of 0.71.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup lowered their price target on MNTN from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Citizens Jmp dropped 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 report on Wednesday, May 6th. Weiss Ratings upgraded MNTN from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday. Evercore set a $22.00 target price on shares of MNTN in a research note on Wednesday, August 5th. Finally, Tigress Financial dropped their price target 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 given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MNTN presently has a consensus rating of "Moderate Buy" and an average price target of $18.65.

Institutional Trading of MNTN

A number of hedge funds and other institutional investors have recently modified their holdings of MNTN. Aster Capital Management DIFC Ltd purchased a new stake in MNTN in the fourth quarter valued at approximately $43,000. Los Angeles Capital Management LLC acquired a new stake in MNTN in the fourth quarter valued at $53,000. Royal Bank of Canada lifted its stake in MNTN by 2,093.6% during the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock worth $70,000 after purchasing an additional 5,590 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of MNTN during the 3rd quarter worth approximately $86,000. Finally, Barclays PLC lifted its position in MNTN by 2,341.4% in the fourth quarter. Barclays PLC now owns 9,326 shares of the company's stock valued at $111,000 after acquiring an additional 8,944 shares during the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.

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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