Short Interest in MNTN Inc. (NYSE:MNTN) Declines By 46.7%

MNTN Inc. (NYSE:MNTN) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 2,009,073 shares, a decrease of 46.7% from the January 29th total of 3,768,881 shares. Based on an average daily trading volume, of 2,088,776 shares, the short-interest ratio is currently 1.0 days. Currently, 4.5% of the company’s stock are short sold. Currently, 4.5% of the company’s stock are short sold. Based on an average daily trading volume, of 2,088,776 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

MNTN has been the subject of several recent analyst reports. Zacks Research cut MNTN from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Evercore set a $27.00 target price on MNTN in a research note on Wednesday, February 11th. Tigress Financial reissued a “strong-buy” rating and set a $36.00 price objective on shares of MNTN in a report on Friday, November 7th. UBS Group set a $20.50 price target on MNTN in a report on Tuesday, January 13th. Finally, Wall Street Zen raised shares of MNTN from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.45.

Insider Buying and Selling

In other news, Director Hadi Partovi sold 192,598 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $13.46, for a total value of $2,592,369.08. Following the transaction, the director owned 254,922 shares in the company, valued at approximately $3,431,250.12. This represents a 43.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 447,520 shares of company stock worth $6,005,775. 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 stock. Aster Capital Management DIFC Ltd bought a new stake in MNTN during the 4th quarter worth approximately $43,000. Los Angeles Capital Management LLC bought a new stake in shares of MNTN during the 4th quarter worth $53,000. KLP Kapitalforvaltning AS bought a new position in MNTN during the third quarter valued at about $54,000. Royal Bank of Canada raised its position in MNTN by 2,093.6% in the fourth quarter. Royal Bank of Canada now owns 5,857 shares of the company’s stock worth $70,000 after acquiring an additional 5,590 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in MNTN in the third quarter valued at about $86,000. Institutional investors own 72.90% of the company’s stock.

MNTN Price Performance

Shares of MNTN stock traded down $0.38 on Friday, hitting $9.74. The company had a trading volume of 539,111 shares, compared to its average volume of 1,414,436. MNTN has a 52 week low of $7.71 and a 52 week high of $32.49. The company has a market cap of $719.72 million and a PE ratio of -6.29. The business has a 50-day simple moving average of $10.59 and a 200-day simple moving average of $14.59.

MNTN (NYSE:MNTN) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. MNTN had a positive return on equity of 9.51% and a negative net margin of 2.22%.The firm had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $86.18 million. The company’s quarterly revenue was up 24.8% compared to the same quarter last year.

MNTN Company Profile

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.