MNTN Inc.’s (NYSE:MNTN) Quiet Period Will End on July 1st

MNTN’s (NYSE:MNTN) quiet period will end on Tuesday, July 1st. MNTN had issued 11,700,000 shares in its public offering on May 22nd. The total size of the offering was $187,200,000 based on an initial share price of $16.00. During MNTN’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MNTN. Raymond James Financial began coverage on MNTN in a report on Monday, June 16th. They set an “outperform” rating and a $27.00 target price for the company. Evercore ISI assumed coverage on MNTN in a research report on Monday, June 16th. They set an “outperform” rating and a $27.00 price target on the stock. Citizens Jmp assumed coverage on MNTN in a research report on Monday, June 16th. They set a “strong-buy” rating and a $23.00 price target on the stock. Citigroup assumed coverage on MNTN in a research report on Monday, June 16th. They set a “neutral” rating and a $22.00 price target on the stock. Finally, Tigress Financial assumed coverage on MNTN in a research report on Monday, June 16th. They set a “buy” rating and a $28.00 price target on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MNTN presently has a consensus rating of “Moderate Buy” and an average price target of $26.56.

MNTN Stock Performance

NYSE MNTN opened at $22.23 on Thursday. MNTN has a 1 year low of $11.00 and a 1 year high of $32.49.

Insider Activity at MNTN

In related news, CEO Mark Steven Douglas sold 900,000 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $14,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dana R. Settle sold 800,000 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $12,800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,955,232 shares of company stock valued at $31,283,712 in the last ninety days. Company insiders own 60.30% of the company’s stock.

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.