MNTN (NYSE:MNTN) Rating Lowered to “In-Line” at Evercore

MNTN (NYSE:MNTN) was downgraded by equities research analysts at Evercore from an “outperform” rating to an “in-line” rating in a report released on Thursday, Briefing.com reports. They currently have a $7.00 target price on the stock. Evercore‘s price objective would suggest a potential downside of 32.72% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Citizens Jmp cut MNTN from an “outperform” rating to a “market perform” rating in a research note on Thursday. Freedom Broker began coverage on MNTN in a research report on Tuesday. They set a “buy” rating and a $16.50 price target on the stock. Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th. Finally, Raymond James Financial lowered MNTN from an “outperform” rating to a “market perform” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

MNTN Stock Performance

MNTN opened at $10.40 on Thursday. The firm’s fifty day moving average is $10.87 and its two-hundred day moving average is $9.97. The firm has a market cap of $643.93 million, a PE ratio of 14.65 and a beta of 1.17. MNTN has a twelve month low of $7.67 and a twelve month high of $14.98.

MNTN (NYSE:MNTN) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). The firm had revenue of $80.25 million during the quarter, compared to analyst estimates of $87.77 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. MNTN’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Equities analysts forecast that MNTN will post 0.87 EPS for the current fiscal year.

Insider Activity at MNTN

In related news, major shareholder Baroda Ventures Llc sold 275,115 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.75, for a total value of $3,507,716.25. Following the sale, the insider directly owned 6,375,543 shares of the company’s stock, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 335,555 shares of company stock worth $4,266,038 in the last quarter. Company insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On MNTN

A number of large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of MNTN in the 3rd quarter valued at about $26,000. Y Intercept Hong Kong Ltd bought a new stake in shares of MNTN in the first quarter valued at about $117,000. Chicago Partners Investment Group LLC bought a new stake in shares of MNTN in the first quarter valued at about $156,000. Hsbc Holdings PLC boosted its position in shares of MNTN by 45.4% during the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock worth $161,000 after buying an additional 5,720 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of MNTN during the first quarter worth about $162,000. Institutional investors own 72.90% of the company’s stock.

Trending Headlines about MNTN

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Third-quarter revenue increased 14.6% year over year, and EPS rose to $0.10 from $0.08 a year earlier. However, both revenue and earnings missed analysts’ estimates. MNTN Q3 earnings results
• Negative Sentiment: MNTN reported $0.10 per share versus a consensus estimate of $0.20, while revenue of $80.25 million came in below expectations of $87.77 million. The earnings and sales misses raise concerns about execution and near-term growth. MNTN Q3 earnings and revenues lag estimates
• Negative Sentiment: Management’s go-to-market issues prompted a guidance cut, adding to concerns beyond the quarterly miss. MNTN guidance cut
• Negative Sentiment: Raymond James and Citizens JMP both downgraded MNTN to Market Perform from more favorable ratings, signaling reduced conviction in the stock’s near-term upside. Raymond James downgrade

MNTN Company Profile

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.