MNTN (NYSE:MNTN) Given New $20.00 Price Target at Susquehanna

MNTN (NYSE:MNTN) had its target price cut by Susquehanna from $38.00 to $20.00 in a report published on Wednesday morning, Marketbeat.com reports. They currently have a positive rating on the stock.

MNTN has been the subject of several other research reports. TD Cowen raised MNTN to a “buy” rating in a report on Thursday, December 4th. UBS Group set a $20.50 price target on shares of MNTN in a report on Tuesday, January 13th. Morgan Stanley cut their target price on MNTN from $22.50 to $20.50 and set an “equal weight” rating for the company in a research note on Tuesday, January 13th. Needham & Company LLC lowered their target price on MNTN from $35.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Zacks Research cut shares of MNTN from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.54.

MNTN Trading Down 8.0%

NYSE MNTN traded down $0.89 during trading on Wednesday, reaching $10.26. The company’s stock had a trading volume of 580,701 shares, compared to its average volume of 936,241. The firm has a market capitalization of $453.80 million and a price-to-earnings ratio of -6.62. MNTN has a 12 month low of $7.71 and a 12 month high of $32.49. The firm has a 50 day moving average price of $11.15 and a 200 day moving average price of $16.03.

MNTN (NYSE:MNTN) last posted its earnings results on Tuesday, February 10th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.26 by $0.17. The firm 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%.MNTN’s quarterly revenue was up 24.8% compared to the same quarter last year.

Insider Buying and Selling

In other news, Director Hadi Partovi sold 86,665 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was 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 can be accessed through the SEC website. In the last 90 days, insiders have sold 447,520 shares of company stock valued at $6,005,775. 60.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new position in MNTN during the 4th quarter worth about $53,000. KLP Kapitalforvaltning AS purchased a new position in shares of MNTN during the 3rd quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new stake in MNTN during the 3rd quarter worth approximately $86,000. Bank of America Corp DE boosted its position in MNTN by 622,300.0% during the third 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in MNTN in the 3rd quarter valued at $170,000. 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.