Innovid (NYSE:CTV) Stock Rating Lowered by Citizens Jmp

Citizens Jmp lowered shares of Innovid (NYSE:CTV) from a strong-buy rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. JMP Securities lowered shares of Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday. Needham & Company LLC restated a “hold” rating and set a $3.00 price target on shares of Innovid in a report on Friday. Four analysts have rated the stock with a hold rating, According to MarketBeat, Innovid currently has a consensus rating of “Hold” and an average target price of $2.83.

Innovid Price Performance

CTV opened at $3.05 on Thursday. The company has a market capitalization of $452.84 million, a PE ratio of -33.89 and a beta of 3.08. Innovid has a fifty-two week low of $1.25 and a fifty-two week high of $3.05. The business has a 50-day moving average of $1.89 and a 200-day moving average of $1.89.

Hedge Funds Weigh In On Innovid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Innovid by 2,993.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock worth $582,000 after buying an additional 304,428 shares during the period. Vanguard Group Inc. lifted its position in Innovid by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock worth $11,344,000 after acquiring an additional 279,830 shares during the last quarter. Legato Capital Management LLC bought a new stake in Innovid during the second quarter valued at about $438,000. Royce & Associates LP grew its position in shares of Innovid by 5.4% in the third quarter. Royce & Associates LP now owns 4,376,721 shares of the company’s stock valued at $7,878,000 after purchasing an additional 223,940 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Innovid by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock worth $4,380,000 after purchasing an additional 184,309 shares during the period. Institutional investors and hedge funds own 25.46% of the company’s stock.

About Innovid

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.