MNTN (NYSE:MNTN) Shares Up 5.4% – Should You Buy?

Shares of MNTN Inc. (NYSE:MNTN) shot up 5.4% during mid-day trading on Friday . The stock traded as high as $13.34 and last traded at $13.28. Approximately 160,032 shares traded hands during trading, a decline of 84% from the average session volume of 973,872 shares. The stock had previously closed at $12.60.

Analyst Ratings Changes

Several brokerages have weighed in on MNTN. Wall Street Zen cut shares of MNTN from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Evercore set a $22.00 price target on MNTN in a research report on Wednesday, August 5th. Citizens Jmp dropped their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Finally, Citigroup decreased their target price on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.65.

MNTN Price Performance

The firm has a 50 day moving average price of $10.47 and a 200-day moving average price of $9.72. The firm has a market cap of $816.95 million, a price-to-earnings ratio of 18.59 and a beta of 0.71.

MNTN (NYSE:MNTN) last released its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The business had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. MNTN had a net margin of 18.00% and a return on equity of 18.85%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.65) earnings per share. On average, sell-side analysts expect that MNTN Inc. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at MNTN

In other news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the transaction, the insider directly owned 6,375,543 shares in the company, valued at $81,288,173.25. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 335,555 shares of company stock valued at $4,266,038. Corporate insiders own 19.60% of the company’s stock.

Institutional Trading of MNTN

A number of large investors have recently made changes to their positions in the company. Mercato Management Legacy LLC acquired a new position in MNTN in the first quarter valued at about $54,279,000. Mercato Partners Growth Iii GP LLC bought a new stake in MNTN during the 4th quarter worth approximately $73,646,000. Wellington Management Group LLP raised its holdings in MNTN by 67.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock worth $99,155,000 after buying an additional 2,159,075 shares during the period. Vanguard Group Inc. boosted its holdings in shares of MNTN by 787.7% in the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock valued at $11,527,000 after buying an additional 551,392 shares during the period. Finally, Mariner LLC acquired a new stake in shares of MNTN during the fourth quarter worth $4,306,000. Institutional investors own 72.90% of the company’s stock.

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.