MNTN (NYSE:MNTN) Stock Gets Downgrade from Wall Street Zen

MNTN (NYSE:MNTN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on MNTN. UBS Group reiterated a “buy” rating and issued a $9.00 price objective on shares of MNTN in a report on Friday. Citigroup lowered MNTN from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $7.00 in a report on Thursday. Citizens Jmp downgraded MNTN from an “outperform” rating to a “market perform” rating in a research note on Thursday. Weiss Ratings upgraded MNTN from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Finally, Susquehanna decreased their target price on MNTN from $20.00 to $12.00 and set a “positive” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.15.

MNTN Price Performance

MNTN opened at $5.28 on Friday. MNTN has a fifty-two week low of $4.60 and a fifty-two week high of $14.89. The business has a 50-day moving average of $10.55 and a 200-day moving average of $9.91. The company has a market capitalization of $326.47 million, a PE ratio of 7.23 and a beta of 1.17.

MNTN (NYSE:MNTN) last posted its earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). The business had revenue of $80.25 million during the quarter, compared to the consensus estimate of $87.77 million. MNTN had a return on equity of 18.46% and a net margin of 17.81%. The business’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, equities research analysts expect that MNTN will post 0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MNTN news, major shareholder Baroda Ventures Llc sold 275,115 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $12.75, for a total value of $3,507,716.25. Following the sale, the insider owned 6,375,543 shares of the company’s stock, valued at $81,288,173.25. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 335,555 shares of company stock worth $4,266,038. 19.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MNTN

Several hedge funds and other institutional investors have recently modified their holdings of MNTN. State of Alaska Department of Revenue acquired a new stake in shares of MNTN during the 3rd quarter worth approximately $26,000. Hsbc Holdings PLC raised its stake in shares of MNTN by 45.4% in the first quarter. Hsbc Holdings PLC now owns 18,311 shares of the company’s stock valued at $161,000 after purchasing an additional 5,720 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of MNTN in the first quarter valued at $117,000. Chicago Partners Investment Group LLC acquired a new position in shares of MNTN in the first quarter valued at $156,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in MNTN in the first quarter worth $162,000. Institutional investors and hedge funds own 72.90% of the company’s stock.

MNTN News Roundup

Here are the key news stories impacting MNTN this week:

• Positive Sentiment: Susquehanna lowered its price target from $20 to $12 but maintained a positive rating, signaling continued potential upside in the analyst’s view. Susquehanna price target article
• Neutral Sentiment: MNTN announced upcoming investor-conference meetings with its CEO and CFO, offering a chance to address investor concerns, but no new operating developments were disclosed. Investor conference announcement
• Negative Sentiment: Third-quarter results missed estimates: adjusted EPS was $0.10 and revenue was $80.25 million, below analysts’ $87.77 million forecast. MNTN also cut its revenue outlook, citing sales-execution challenges and disruption in its sales organization; it expects fourth-quarter revenue of $75 million to $78 million. Earnings and outlook coverage
• Negative Sentiment: Several law firms have announced investigations into whether MNTN or its executives adequately disclosed sales-force, customer-acquisition and growth issues. These are allegations under investigation, not findings of wrongdoing, but add uncertainty for investors. Robbins LLP investigation notice
• Negative Sentiment: Analyst sentiment also weakened: Evercore downgraded MNTN to “in-line,” while Raymond James and Citizens JMP cut their ratings to “market perform.” Raymond James downgrade

About MNTN

MNTN, Inc is an advertising technology company that provides software for planning, launching, measuring and optimizing connected television (CTV) advertising campaigns. Its platform is designed to help businesses use television advertising with the targeting, automation and performance measurement capabilities commonly associated with digital marketing.

The company’s products support campaign creation, audience targeting, media buying and analytics across streaming television environments.