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

Shares of MNTN Inc. (NYSE:MNTN) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.65.

A number of analysts recently issued reports on the company. Weiss Ratings raised MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Evercore set a $22.00 target price on MNTN in a research note on Wednesday, August 5th. Citigroup dropped their target price on MNTN from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Morgan Stanley set a $16.00 price target on MNTN in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded MNTN from a “hold” rating to a “buy” rating in a report on Monday, September 28th.

MNTN Price Performance

Shares of MNTN opened at $9.33 on Thursday. The business’s 50-day moving average is $11.06 and its 200-day moving average is $10.00. The company has a market capitalization of $577.43 million, a price-to-earnings ratio of 13.14 and a beta of 1.15. MNTN has a fifty-two week low of $7.67 and a fifty-two week high of $16.91.

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

Insider Activity at MNTN

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total transaction of $3,507,716.25. Following the completion of the sale, the insider owned 6,375,543 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 335,555 shares of company stock worth $4,266,038. Corporate insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MNTN. State of Alaska Department of Revenue acquired a new position in shares of MNTN during the third quarter valued at about $26,000. Y Intercept Hong Kong Ltd acquired a new stake in MNTN in the 1st quarter valued at $117,000. Chicago Partners Investment Group LLC bought a new stake in shares of MNTN in the 1st quarter worth about $156,000. Hsbc Holdings PLC increased its holdings in shares of MNTN by 45.4% during the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock worth $161,000 after buying an additional 5,720 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in MNTN during the 1st quarter valued at $162,000. 72.90% of the stock is owned by institutional investors.

About MNTN

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.