MNTN Inc. (NYSE:MNTN) Stock Has Consensus Target Price of $18.65

MNTN Inc. (NYSE:MNTN) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.65.

Several equities analysts recently commented on the company. Wall Street Zen raised MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th. Morgan Stanley set a $16.00 price target on MNTN in a report on Monday, August 10th. Evercore set a $22.00 price objective on MNTN in a research report on Wednesday, August 5th. Tigress Financial dropped their price objective on MNTN from $26.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th.

Insider Transactions at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 335,555 shares of company stock valued at $4,266,038 over the last three months. Corporate insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mercato Management Legacy LLC purchased a new position in shares of MNTN in the 1st quarter valued at $54,279,000. Renaissance Technologies LLC lifted its position in MNTN by 40.7% in the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock valued at $5,687,000 after acquiring an additional 187,028 shares during the last quarter. Militia Capital Management LLC purchased a new stake in MNTN in the first quarter valued at $2,362,000. Manchester Financial Inc. acquired a new position in MNTN in the fourth quarter valued at $2,388,000. Finally, S Squared Technology LLC boosted its stake in MNTN by 14.7% in the fourth quarter. S Squared Technology LLC now owns 155,600 shares of the company’s stock valued at $1,858,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN Stock Down 0.2%

NYSE MNTN opened at $10.06 on Friday. MNTN has a 52 week low of $7.67 and a 52 week high of $18.60. The stock has a market capitalization of $622.61 million, a PE ratio of 14.17 and a beta of 1.15. The firm has a 50 day moving average of $11.57 and a two-hundred day moving average of $10.04.

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

MNTN Company Profile

MNTN, Inc operates a software platform designed to help businesses plan, purchase, manage and measure connected television (CTV) advertising campaigns. Its platform applies performance-marketing tools to television advertising, enabling brands to reach audiences across streaming and other digital video environments.

The company provides campaign management, audience targeting, automated media buying, creative support and performance measurement capabilities. MNTN’s services are intended to help advertisers and agencies use television advertising to drive measurable business outcomes, including customer acquisition, website visits and sales.

MNTN was previously known as SteelHouse and is headquartered in Los Angeles, California.