MNTN (NYSE:MNTN) Major Shareholder Sells $422,229.52 in Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 33,617 shares of MNTN stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $12.56, for a total value of $422,229.52. Following the completion of the sale, the insider directly owned 6,650,658 shares of the company’s stock, valued at approximately $83,532,264.48. This trade represents a 0.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Baroda Ventures Llc also recently made the following trade(s):

• On Thursday, August 13th, Baroda Ventures Llc sold 26,823 shares of MNTN stock. The shares were sold at an average price of $12.53, for a total value of $336,092.19.

MNTN Stock Up 2.4%

Shares of NYSE:MNTN opened at $12.80 on Thursday. The firm has a market capitalization of $792.50 million, a PE ratio of 18.04 and a beta of 0.71. MNTN Inc. has a twelve month low of $7.67 and a twelve month high of $23.25. The company has a 50-day moving average price of $9.96 and a two-hundred day moving average price of $9.54.

MNTN (NYSE:MNTN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). The business had revenue of $82.54 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.65) EPS. Analysts anticipate that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MNTN. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price target on shares of MNTN in a report on Wednesday, May 6th. Weiss Ratings upgraded MNTN from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 28th. Citizens Jmp decreased their price target on MNTN from $23.00 to $19.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 6th. Tigress Financial cut their price objective on shares of MNTN from $26.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 13th. Finally, Evercore set a $22.00 target price on shares of MNTN in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MNTN currently has an average rating of “Moderate Buy” and an average price target of $18.65.

Hedge Funds Weigh In On MNTN

A number of institutional investors have recently added to or reduced their stakes in MNTN. Mercato Management Legacy LLC purchased a new position in shares of MNTN during the first quarter worth about $54,279,000. Militia Capital Management LLC purchased a new stake in MNTN in the first quarter valued at approximately $2,284,000. Pacer Advisors Inc. bought a new stake in MNTN during the first quarter valued at approximately $771,000. Manchester Financial Inc. purchased a new position in MNTN in the 4th quarter worth approximately $2,388,000. Finally, UBS Group AG grew its stake in MNTN by 142.1% in the 4th quarter. UBS Group AG now owns 288,267 shares of the company’s stock worth $3,442,000 after buying an additional 169,218 shares in the last quarter. 72.90% of the stock is currently owned by institutional investors.

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.