Mercato Management Legacy LLC Buys New Shares in MNTN Inc. $MNTN

Mercato Management Legacy LLC acquired a new stake in shares of MNTN Inc. (NYSE:MNTN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,168,022 shares of the company’s stock, valued at approximately $54,279,000. MNTN comprises about 100.0% of Mercato Management Legacy LLC’s investment portfolio, making the stock its largest position. Mercato Management Legacy LLC owned 0.10% of MNTN as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercato Partners Growth Iii GP LLC purchased a new stake in MNTN during the 4th quarter valued at $73,646,000. Wellington Management Group LLP boosted its position in MNTN by 67.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock valued at $99,155,000 after buying an additional 2,159,075 shares during the period. Vanguard Group Inc. grew its stake in MNTN by 787.7% in the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock worth $11,527,000 after purchasing an additional 551,392 shares in the last quarter. Mariner LLC purchased a new position in shares of MNTN during the fourth quarter valued at $4,306,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of MNTN by 7,337.0% in the 4th quarter. JPMorgan Chase & Co. now owns 343,513 shares of the company’s stock valued at $4,102,000 after purchasing an additional 338,894 shares in the last quarter. Hedge funds and other institutional investors own 72.90% of the company’s stock.

MNTN Stock Down 3.1%

Shares of MNTN opened at $8.55 on Thursday. MNTN Inc. has a 52-week low of $7.67 and a 52-week high of $32.00. The stock has a market cap of $521.76 million, a PE ratio of -285.07 and a beta of 0.81. The firm’s fifty day moving average is $9.23 and its two-hundred day moving average is $9.60.

MNTN (NYSE:MNTN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $73.70 million during the quarter, compared to analyst estimates of $72.63 million. MNTN had a net margin of 7.84% and a return on equity of 16.44%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.41) EPS. As a group, research analysts anticipate that MNTN Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

MNTN has been the subject of several recent research reports. Morgan Stanley reduced their price target on MNTN from $20.50 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $26.00 price target on shares of MNTN in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of MNTN from a “buy” rating to a “strong-buy” rating in a research note on Monday. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Finally, Raymond James Financial restated an “outperform” rating and set a $15.00 price target on shares of MNTN 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.85.

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.