MNTN (NYSE:MNTN) Upgraded to “Strong-Buy” at Wall Street Zen

MNTN (NYSE:MNTN) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other brokerages also recently issued reports on MNTN. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MNTN in a research report on Monday, December 29th. Susquehanna decreased their target price on shares of MNTN from $38.00 to $20.00 and set a “positive” rating for the company in a research note on Wednesday. Tigress Financial reaffirmed a “strong-buy” rating and set a $36.00 price target on shares of MNTN in a research note on Friday, November 7th. Citigroup cut their price objective on shares of MNTN from $22.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group set a $20.00 target price on MNTN in a research report on Thursday, December 4th. One 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 assigned a Sell rating to the stock. According to MarketBeat, MNTN presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.15.

MNTN Trading Down 5.8%

Shares of MNTN stock opened at $10.32 on Friday. The company has a fifty day moving average price of $11.04 and a 200 day moving average price of $15.87. MNTN has a twelve month low of $7.71 and a twelve month high of $32.49. The stock has a market cap of $456.28 million and a price-to-earnings ratio of -6.66.

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

Insider Activity

In other news, Director Hadi Partovi sold 86,665 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $13.39, for a total transaction of $1,160,444.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 447,520 shares of company stock valued at $6,005,775. Corporate insiders own 60.30% of the company’s stock.

Institutional Trading of MNTN

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in MNTN during the 4th quarter worth approximately $395,000. Walleye Capital LLC raised its position in shares of MNTN by 125.5% during the 4th quarter. Walleye Capital LLC now owns 112,739 shares of the company’s stock valued at $1,346,000 after acquiring an additional 62,739 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in MNTN during the fourth quarter worth $160,000. HRT Financial LP acquired a new position in MNTN in the fourth quarter worth $394,000. Finally, Aristides Capital LLC bought a new stake in MNTN during the fourth quarter valued at $191,000. 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.