Pier Capital LLC Purchases Shares of 226,997 MNTN Inc. $MNTN

Pier Capital LLC purchased a new stake in MNTN Inc. (NYSE:MNTN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 226,997 shares of the company’s stock, valued at approximately $4,211,000.

A number of other large investors have also modified their holdings of MNTN. HBK Investments L P acquired a new stake in shares of MNTN in the second quarter valued at $2,187,000. Seven Grand Managers LLC acquired a new position in MNTN during the 2nd quarter worth $536,000. Walleye Capital LLC purchased a new stake in MNTN during the 2nd quarter worth about $875,000. Federated Hermes Inc. purchased a new stake in MNTN during the 2nd quarter worth about $11,482,000. Finally, BCS Private Wealth Management Inc. acquired a new stake in MNTN in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MNTN shares. Tigress Financial lowered their price objective on MNTN from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Zacks Research downgraded shares of MNTN from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of MNTN from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. UBS Group set a $20.50 price objective on shares of MNTN in a research report on Tuesday, January 13th. Finally, Evercore set a $27.00 price objective on shares of MNTN in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MNTN presently has a consensus rating of “Moderate Buy” and an average price target of $22.55.

MNTN Trading Down 6.4%

MNTN stock opened at $9.81 on Friday. The stock has a market cap of $724.74 million and a P/E ratio of -6.33. MNTN Inc. has a twelve month low of $7.71 and a twelve month high of $32.49. The company’s 50 day moving average is $10.27 and its two-hundred day moving average is $13.93.

MNTN (NYSE:MNTN) last issued its earnings results 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 business had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. The company’s revenue was up 24.8% on a year-over-year basis.

MNTN 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.