Stock Traders Buy High Volume of MNTN Call Options (NYSE:MNTN)

Key Points

• MNTN saw unusually heavy options activity on Tuesday, with investors buying 6,259 call options versus a typical daily volume of 576 — a jump of 987%.
• Shares rose modestly to $8.85, but the stock remains well below its 52-week high of $32.00 and is trading under both its 50-day and 200-day moving averages.
• Recent earnings were mixed: revenue beat expectations at $73.7 million, while EPS of $0.11 slightly missed estimates; analysts still hold a consensus rating of Moderate Buy with a $19.85 price target.

MNTN Inc. (NYSE:MNTN - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors bought 6,259 call options on the company. This represents an increase of 987% compared to the typical daily volume of 576 call options.

MNTN Price Performance

Shares of NYSE MNTN traded up $0.07 during trading on Tuesday, reaching $8.85. 464,075 shares of the stock traded hands, compared to its average volume of 945,931. The stock has a market capitalization of $539.63 million, a P/E ratio of -294.83 and a beta of 0.81. MNTN has a 52-week low of $7.67 and a 52-week high of $32.00. The company has a 50-day moving average of $9.21 and a 200-day moving average of $9.65.

MNTN (NYSE:MNTN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The firm had revenue of $73.70 million during the quarter, compared to the consensus estimate of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. The company's revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.41) earnings per share. Analysts expect that MNTN will post 0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MNTN shares. Wall Street Zen raised MNTN from a "buy" rating to a "strong-buy" rating in a research report on Monday. Canaccord Genuity Group reduced their price target on shares of MNTN from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Tigress Financial restated a "strong-buy" rating and set a $26.00 price objective on shares of MNTN in a report on Wednesday, June 3rd. Citizens Jmp lowered their price objective 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. Finally, Morgan Stanley reduced their target price on shares of MNTN from $20.50 to $18.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 6th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.85.

Institutional Trading of MNTN

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in MNTN in the 4th quarter valued at approximately $43,000. Los Angeles Capital Management LLC purchased a new stake in shares of MNTN during the fourth quarter worth $53,000. Royal Bank of Canada boosted its holdings in shares of MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company's stock worth $70,000 after acquiring an additional 5,590 shares during the period. JPMorgan Chase & Co. bought a new position in shares of MNTN in the third quarter worth $86,000. Finally, Barclays PLC grew its position in shares of 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 purchasing an additional 8,944 shares in the last quarter. 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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