Insider Selling: MNTN (NYSE:MNTN) Director Sells 192,598 Shares of Stock

MNTN Inc. (NYSE:MNTN) Director Hadi Partovi sold 192,598 shares of the company’s stock in a transaction dated 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 owned 254,922 shares in the company, valued at approximately $3,431,250.12. This trade represents a 43.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hadi Partovi also recently made the following trade(s):

• On Wednesday, December 3rd, Hadi Partovi sold 86,665 shares of MNTN stock. The stock was sold at an average price of $13.39, for a total value of $1,160,444.35.
• On Tuesday, December 2nd, Hadi Partovi sold 168,257 shares of MNTN stock. The stock was sold at an average price of $13.39, for a total value of $2,252,961.23.

MNTN Trading Up 2.9%

Shares of MNTN traded up $0.38 during mid-day trading on Wednesday, hitting $13.68. The stock had a trading volume of 429,402 shares, compared to its average volume of 774,415. MNTN Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $32.49. The company’s fifty day moving average price is $15.58.

MNTN (NYSE:MNTN) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $70.00 million for the quarter, compared to the consensus estimate of $70.11 million. The business’s revenue was up 22.6% compared to the same quarter last year.

Hedge Funds Weigh In On MNTN

Several hedge funds have recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new stake in MNTN during the third quarter worth approximately $54,000. JPMorgan Chase & Co. acquired a new stake in shares of MNTN during the 3rd quarter valued at $86,000. Bank of America Corp DE boosted its stake in shares of MNTN by 622,300.0% during the 3rd quarter. Bank of America Corp DE now owns 6,224 shares of the company’s stock worth $115,000 after acquiring an additional 6,223 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MNTN in the 3rd quarter worth $170,000. Finally, BCS Private Wealth Management Inc. acquired a new stake in shares of MNTN during the second quarter worth $209,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup raised MNTN from a “neutral” rating to a “buy” rating and lowered their target price for the company from $33.00 to $22.00 in a report on Friday, October 24th. Morgan Stanley set a $22.50 target price on MNTN in a research note on Wednesday, November 5th. Needham & Company LLC lowered their price target on shares of MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. JMP Securities set a $23.00 price objective on shares of MNTN in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of MNTN in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.15.

MNTN Company Profile

MNTN is on a mission to transform Connected TV (“CTV”) into a next-generation performance marketing channel. Our revolutionary Performance TV (“PTV”) software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising.