Baroda Ventures Llc Sells 275,115 Shares of MNTN (NYSE:MNTN) Stock

MNTN Inc. (NYSE:MNTN) major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $81,288,173.25. The trade was a 4.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 Friday, August 14th, Baroda Ventures Llc sold 33,617 shares of MNTN stock. The shares were sold at an average price of $12.56, for a total transaction of $422,229.52.
• 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 transaction of $336,092.19.

MNTN Price Performance

NYSE MNTN opened at $12.87 on Friday. The company’s fifty day moving average is $10.13 and its two-hundred day moving average is $9.59. MNTN Inc. has a 52-week low of $7.67 and a 52-week high of $23.25. The firm has a market capitalization of $796.52 million, a price-to-earnings ratio of 18.13 and a beta of 0.71.

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). MNTN had a net margin of 18.00% and a return on equity of 18.85%. The company had revenue of $82.54 million for the quarter, compared to analyst estimates of $82.34 million. During the same period in the prior year, the company posted ($0.65) EPS. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts expect that MNTN Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of MNTN

Several hedge funds have recently modified their holdings of the company. Soros Fund Management LLC bought a new position in shares of MNTN in the second quarter valued at approximately $2,187,000. Raymond James Financial Inc. bought a new position in MNTN in the 2nd quarter valued at $2,111,000. Bamco Inc. NY bought a new stake in shares of MNTN during the second quarter worth $1,531,000. Balyasny Asset Management L.P. acquired a new stake in shares of MNTN in the second quarter valued at $3,442,000. Finally, Boothbay Fund Management LLC bought a new position in shares of MNTN in the second quarter valued at about $2,183,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNTN. Morgan Stanley set a $16.00 price target on shares of MNTN in a research note on Monday, August 10th. Citizens Jmp reduced their price objective on shares of MNTN from $23.00 to $19.00 and set a “market outperform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings raised shares of MNTN from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. Wall Street Zen lowered shares of MNTN from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $15.00 price objective on shares of MNTN in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MNTN currently has a consensus rating of “Moderate Buy” and an average price target of $18.65.

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.