Citigroup Begins Coverage on MNTN (NYSE:MNTN)

Investment analysts at Citigroup began coverage on shares of MNTN (NYSE:MNTN) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “neutral” rating and a $22.00 price target on the stock. Citigroup’s price target would indicate a potential upside of 19.86% from the stock’s previous close.

Separately, Wall Street Zen raised MNTN to a “hold” rating in a research note on Monday, June 2nd.

MNTN Trading Down 7.8%

MNTN opened at $18.36 on Monday. MNTN has a 52-week low of $11.00 and a 52-week high of $32.49.

Insider Transactions at MNTN

In related news, Director Dana R. Settle sold 800,000 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $12,800,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick Pohlen sold 255,232 shares of MNTN stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $4,083,712.00. Following the transaction, the chief financial officer now directly owns 1,319,489 shares in the company, valued at $21,111,824. This trade represents a 16.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,955,232 shares of company stock worth $31,283,712 in the last ninety days. Insiders own 60.30% of the company’s stock.

MNTN Company Profile

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.