Teachers Retirement System of The State of Kentucky Makes New $1.17 Million Investment in MNTN Inc. $MNTN

Teachers Retirement System of The State of Kentucky bought a new stake in shares of MNTN Inc. (NYSE:MNTN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 63,084 shares of the company’s stock, valued at approximately $1,170,000.

Several other hedge funds have also recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new stake in shares of MNTN in the 3rd quarter worth approximately $54,000. JPMorgan Chase & Co. purchased a new position in MNTN during the third quarter valued at approximately $86,000. Quantbot Technologies LP bought a new position in MNTN in the third quarter worth approximately $170,000. BCS Private Wealth Management Inc. purchased a new stake in MNTN during the second quarter worth $209,000. Finally, AMH Equity Ltd purchased a new stake in MNTN during the third quarter worth $186,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

Analysts Set New Price Targets

MNTN has been the topic of a number of analyst reports. Canaccord Genuity Group set a $20.00 price target on MNTN in a report on Thursday, December 4th. Morgan Stanley dropped their price objective on MNTN from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 13th. Susquehanna cut their target price on MNTN from $38.00 to $20.00 and set a “positive” rating on the stock in a research note on Wednesday, February 11th. TD Cowen upgraded shares of MNTN to a “buy” rating in a report on Thursday, December 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of MNTN in a report on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MNTN presently has an average rating of “Moderate Buy” and a consensus price target of $22.55.

MNTN Stock Performance

Shares of NYSE MNTN opened at $10.63 on Friday. MNTN Inc. has a fifty-two week low of $7.71 and a fifty-two week high of $32.49. The company has a market cap of $785.24 million and a PE ratio of -6.86. The business has a 50-day simple moving average of $10.41 and a two-hundred day simple moving average of $14.27.

MNTN (NYSE:MNTN) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. The firm had revenue of $87.10 million for the quarter, compared to the consensus estimate of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis.

MNTN Company Profile

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.