Innovid Corp. (NYSE:CTV) Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its position in shares of Innovid Corp. (NYSE:CTV) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,376,721 shares of the company’s stock after buying an additional 223,940 shares during the period. Royce & Associates LP’s holdings in Innovid were worth $7,878,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in shares of Innovid by 174.3% in the first quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock valued at $1,297,000 after purchasing an additional 331,643 shares during the period. Bank of New York Mellon Corp grew its position in shares of Innovid by 2,993.1% in the second quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock valued at $582,000 after purchasing an additional 304,428 shares during the period. Vanguard Group Inc. grew its position in shares of Innovid by 6.5% in the first quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock valued at $11,344,000 after purchasing an additional 279,830 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Innovid in the second quarter valued at about $438,000. Finally, Rhumbline Advisers grew its position in shares of Innovid by 3,951.8% in the second quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock valued at $216,000 after purchasing an additional 114,008 shares during the period. 25.46% of the stock is owned by hedge funds and other institutional investors.

Innovid Price Performance

Shares of CTV stock opened at $1.67 on Monday. The firm’s 50-day moving average is $1.84 and its two-hundred day moving average is $1.89. Innovid Corp. has a 12 month low of $1.12 and a 12 month high of $2.58. The company has a market capitalization of $244.50 million, a PE ratio of -18.56 and a beta of 3.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CTV shares. Needham & Company LLC restated a “buy” rating and set a $3.00 price target on shares of Innovid in a research report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Innovid from $2.20 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd.

Innovid Company Profile

Innovid Corp. operates an independent software platform that provides ad serving, measurement, and creative services. It offers advertising services for the creation, delivery, and measurement of TV ads across connected TV, mobile TV, and desktop TV environments to advertisers, publishers, and media agencies.