Connor Clark & Lunn Investment Management Ltd. Buys 10,839 Shares of Innovid Corp. (NYSE:CTV)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Innovid Corp. (NYSE:CTV) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,421 shares of the company’s stock after purchasing an additional 10,839 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Innovid were worth $724,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Innovid by 6.5% during the 1st 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 in the last quarter. Royce & Associates LP boosted its stake in Innovid by 5.4% during the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock worth $7,878,000 after acquiring an additional 223,940 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Innovid by 12.9% during the second quarter. Acadian Asset Management LLC now owns 589,182 shares of the company’s stock worth $1,088,000 after acquiring an additional 67,316 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Innovid by 2,993.1% during the second quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after acquiring an additional 304,428 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in Innovid during the second quarter worth about $438,000. Institutional investors own 25.46% of the company’s stock.

Innovid Stock Performance

Shares of Innovid stock opened at $3.04 on Friday. The stock has a market capitalization of $451.36 million, a PE ratio of -33.78 and a beta of 3.08. Innovid Corp. has a 52-week low of $1.25 and a 52-week high of $3.05. The company has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $1.91.

Analyst Ratings Changes

Several equities research analysts recently commented on CTV shares. Citizens Jmp lowered shares of Innovid from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. JMP Securities lowered shares of Innovid from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC reissued a “hold” rating and set a $3.00 price objective on shares of Innovid in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.83.

Innovid 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.