Innovid (NYSE:CTV) Downgraded by Citizens Jmp to Hold

Innovid (NYSE:CTV) was downgraded by stock analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on CTV. Needham & Company LLC restated a “hold” rating and issued a $3.00 target price on shares of Innovid in a report on Friday. JMP Securities downgraded Innovid from an “outperform” rating to a “market perform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.83.

Innovid Trading Up 1.3 %

CTV stock opened at $3.05 on Thursday. Innovid has a 12-month low of $1.25 and a 12-month high of $3.05. The stock has a market capitalization of $452.83 million, a PE ratio of -33.89 and a beta of 3.08. The stock’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $1.89.

Institutional Investors Weigh In On Innovid

Hedge funds and other institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in Innovid by 2.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 402,421 shares of the company’s stock valued at $724,000 after buying an additional 10,839 shares during the period. FMR LLC increased its holdings in Innovid by 590.2% during the 3rd quarter. FMR LLC now owns 15,413 shares of the company’s stock worth $28,000 after purchasing an additional 13,180 shares during the period. Miller Investment Management LP bought a new position in shares of Innovid during the 3rd quarter worth $36,000. SG Americas Securities LLC lifted its stake in Innovid by 124.1% in the third quarter. SG Americas Securities LLC now owns 36,605 shares of the company’s stock worth $66,000 after acquiring an additional 20,272 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Innovid in the 1st quarter valued at about $58,000. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

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.