Fortress Investment Group LLC Sells 62,050 Shares of MNTN Inc. $MNTN

Fortress Investment Group LLC lowered its stake in MNTN Inc. (NYSE:MNTN) by 56.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,613 shares of the company’s stock after selling 62,050 shares during the quarter. Fortress Investment Group LLC owned about 0.11% of MNTN worth $902,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MNTN. KLP Kapitalforvaltning AS bought a new stake in MNTN in the third quarter valued at about $54,000. JPMorgan Chase & Co. bought a new position in MNTN during the third quarter worth about $86,000. Bank of America Corp DE boosted its holdings in MNTN by 622,300.0% during the third quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock worth $115,000 after buying an additional 6,223 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of MNTN during the 3rd quarter worth about $170,000. Finally, AMH Equity Ltd bought a new stake in shares of MNTN in the 3rd quarter valued at about $186,000. 72.90% of the stock is owned by institutional investors and hedge funds.

MNTN Stock Performance

Shares of MNTN stock opened at $9.58 on Monday. The firm has a market cap of $707.90 million and a PE ratio of -6.18. The business’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $13.75. MNTN Inc. has a 52-week low of $7.71 and a 52-week high of $32.49.

MNTN (NYSE:MNTN) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. The company had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $86.18 million. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MNTN shares. Tigress Financial cut their price target on shares of MNTN from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Zacks Research cut shares of MNTN from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MNTN in a research note on Monday, December 29th. Canaccord Genuity Group set a $20.00 target price on shares of MNTN in a report on Thursday, December 4th. Finally, UBS Group set a $20.50 price target on shares of MNTN in a report on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.55.

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.