MNTN (NYSE:MNTN) Given New $17.00 Price Target at Citigroup

MNTN (NYSE:MNTN) had its price target cut by Citigroup from $22.00 to $17.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on MNTN. Canaccord Genuity Group set a $20.00 price objective on MNTN in a research report on Thursday, December 4th. Tigress Financial restated a “strong-buy” rating and issued a $36.00 price target on shares of MNTN in a report on Friday, November 7th. Wall Street Zen raised shares of MNTN from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Evercore decreased their target price on shares of MNTN from $39.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Evercore ISI set a $27.00 price target on shares of MNTN in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.15.

MNTN Trading Down 1.7%

Shares of MNTN stock opened at $10.96 on Thursday. The stock has a market capitalization of $484.76 million and a price-to-earnings ratio of -7.07. MNTN has a twelve month low of $7.71 and a twelve month high of $32.49. The stock has a fifty day simple moving average of $11.10 and a two-hundred day simple moving average of $15.99.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. The company had revenue of $87.10 million for the quarter, compared to analyst estimates of $86.18 million. MNTN had a negative net margin of 2.22% and a positive return on equity of 12.69%. The firm’s revenue was up 24.8% on a year-over-year basis.

Insider Transactions at MNTN

In other MNTN news, Director Hadi Partovi sold 192,598 shares of MNTN stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $13.46, for a total transaction of $2,592,369.08. Following the completion of the sale, the director directly owned 254,922 shares in the company, valued at approximately $3,431,250.12. The trade was a 43.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 447,520 shares of company stock worth $6,005,775. Company insiders own 60.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNTN. Wellington Management Group LLP lifted its position in MNTN by 67.8% during the third quarter. Wellington Management Group LLP now owns 5,345,302 shares of the company’s stock valued at $99,155,000 after purchasing an additional 2,159,075 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MNTN by 787.7% in the 3rd quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock valued at $11,527,000 after buying an additional 551,392 shares during the period. Federated Hermes Inc. acquired a new position in shares of MNTN in the 2nd quarter valued at about $11,482,000. JPMorgan Chase & Co. boosted its stake in shares of MNTN by 7,337.0% in the fourth quarter. JPMorgan Chase & Co. now owns 343,513 shares of the company’s stock worth $4,102,000 after buying an additional 338,894 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in MNTN by 279.5% during the fourth quarter. Renaissance Technologies LLC now owns 459,189 shares of the company’s stock worth $5,483,000 after acquiring an additional 338,189 shares during the period. Hedge funds and other institutional investors 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.