MNTN (NYSE:MNTN) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of MNTN (NYSE:MNTN) from a strong-buy rating to a buy rating in a report released on Saturday.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group dropped their price target on MNTN from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Raymond James Financial reiterated an “outperform” rating and issued a $15.00 price objective on shares of MNTN in a research report on Wednesday, May 6th. Weiss Ratings raised MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Evercore set a $22.00 target price on shares of MNTN in a report on Wednesday, August 5th. Finally, Morgan Stanley cut their price target on shares of MNTN from $20.50 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.15.

MNTN Trading Up 3.4%

MNTN stock opened at $11.49 on Friday. The business’s 50-day moving average price is $9.56 and its two-hundred day moving average price is $9.43. The firm has a market cap of $701.00 million, a PE ratio of 16.18 and a beta of 0.71. MNTN has a 1-year low of $7.67 and a 1-year high of $23.86.

Institutional Investors Weigh In On MNTN

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. bought a new stake in MNTN in the 1st quarter valued at approximately $771,000. Zazove Associates LLC grew its stake in shares of MNTN by 18.7% during the 1st quarter. Zazove Associates LLC now owns 150,322 shares of the company’s stock worth $1,323,000 after acquiring an additional 23,721 shares in the last quarter. Militia Capital Management LLC acquired a new stake in shares of MNTN in the first quarter valued at approximately $2,362,000. Renaissance Technologies LLC lifted its position in shares of MNTN by 40.7% in the first quarter. Renaissance Technologies LLC now owns 646,217 shares of the company’s stock worth $5,687,000 after purchasing an additional 187,028 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in MNTN in the first quarter valued at $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

About MNTN

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.