Royce & Associates LP Sells 560,340 Shares of Innovid Corp. (NYSE:CTV)

Royce & Associates LP trimmed its stake in shares of Innovid Corp. (NYSE:CTV) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,816,381 shares of the company’s stock after selling 560,340 shares during the period. Royce & Associates LP’s holdings in Innovid were worth $11,793,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Whetstone Capital Advisors LLC grew its position in shares of Innovid by 0.7% during the third quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock valued at $5,884,000 after purchasing an additional 23,642 shares in the last quarter. Geode Capital Management LLC boosted its stake in Innovid by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,433,158 shares of the company’s stock valued at $4,380,000 after buying an additional 184,309 shares during the last quarter. State Street Corp grew its holdings in Innovid by 12.6% during the 3rd quarter. State Street Corp now owns 1,188,183 shares of the company’s stock valued at $2,139,000 after buying an additional 133,281 shares in the last quarter. ABC Arbitrage SA bought a new stake in Innovid in the 4th quarter worth approximately $1,876,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Innovid during the 4th quarter worth approximately $1,615,000. 25.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CTV shares. Citizens Jmp lowered shares of Innovid from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “hold” rating and issued a $3.00 price objective on shares of Innovid in a research note on Friday, November 22nd. Finally, JMP Securities cut shares of Innovid from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st.

Innovid Stock Performance

NYSE:CTV opened at $3.14 on Tuesday. The stock’s fifty day moving average is $3.12 and its 200 day moving average is $2.56. The firm has a market capitalization of $466.21 million, a PE ratio of -34.89 and a beta of 3.25. Innovid Corp. has a fifty-two week low of $1.50 and a fifty-two week high of $3.40.

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.