MNTN (NYSE:MNTN) Stock Price Up 5.7% - Should You Buy?

Key Points

• MNTN shares rose 5.7% to about $13.18 in mid-day trading, although volume was 81% below the average session volume.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $18.65, despite several recent target reductions.
• The company’s quarterly revenue increased 20.5% year over year to $82.54 million, but earnings of $0.09 per share missed estimates of $0.19; a major shareholder also sold 33,617 shares.

MNTN Inc. (NYSE:MNTN - Get Free Report)'s stock price was up 5.7% during mid-day trading on Tuesday . The stock traded as high as $12.97 and last traded at $13.1760. 184,725 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 974,161 shares. The stock had previously closed at $12.46.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings upgraded MNTN from a "sell (e+)" rating to a "sell (d)" rating in a research report on Thursday, May 28th. Citizens Jmp reduced their target price on shares of MNTN from $23.00 to $19.00 and set a "market outperform" rating on the stock in a report on Wednesday, May 6th. Citigroup decreased 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. Raymond James Financial reiterated an "outperform" rating and set a $15.00 price target on shares of MNTN in a report on Wednesday, May 6th. Finally, Tigress Financial reduced their price objective on shares of MNTN from $26.00 to $22.00 and set a "strong-buy" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MNTN has an average rating of "Moderate Buy" and an average price target of $18.65.

MNTN Price Performance

The firm has a market cap of $815.75 million, a PE ratio of 18.56 and a beta of 0.71. The stock has a 50-day moving average price of $9.80 and a 200 day moving average price of $9.50.

MNTN (NYSE:MNTN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share 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 analysts' expectations of $82.34 million. During the same quarter last year, the company posted ($0.65) earnings per share. The business's quarterly revenue was up 20.5% compared to the same quarter last year. As a group, equities research analysts anticipate that MNTN Inc. will post 0.87 earnings per share for the current year.

Insider Activity at MNTN

In other news, major shareholder Baroda Ventures Llc sold 33,617 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $12.56, for a total transaction of $422,229.52. Following the transaction, the insider directly owned 6,650,658 shares in the company, 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 SEC, which is available at this link. 19.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MNTN

A number of institutional investors have recently bought and sold shares of MNTN. Mercato Management Legacy LLC purchased a new stake in shares of MNTN during the 1st quarter valued at $54,279,000. Militia Capital Management LLC purchased a new position in shares of MNTN in the 1st quarter worth $2,284,000. Pacer Advisors Inc. acquired a new position in MNTN in the first quarter valued at $771,000. Manchester Financial Inc. acquired a new position in MNTN in the fourth quarter valued at $2,388,000. Finally, UBS Group AG grew its position in MNTN by 142.1% during the fourth quarter. UBS Group AG now owns 288,267 shares of the company's stock valued at $3,442,000 after acquiring an additional 169,218 shares during the period. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

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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