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

Royce & Associates LP cut its stake in Innovid Corp. (NYSE:CTV) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,816,381 shares of the company’s stock after selling 560,340 shares during the quarter. Royce & Associates LP owned 2.57% of Innovid worth $11,793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Whetstone Capital Advisors LLC grew its position in Innovid by 0.7% in the 3rd quarter. Whetstone Capital Advisors LLC now owns 3,268,879 shares of the company’s stock worth $5,884,000 after purchasing an additional 23,642 shares during the period. Geode Capital Management LLC grew its holdings 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 acquiring an additional 184,309 shares during the period. State Street Corp increased its position in Innovid by 12.6% during the third quarter. State Street Corp now owns 1,188,183 shares of the company’s stock valued at $2,139,000 after acquiring an additional 133,281 shares during the last quarter. ABC Arbitrage SA bought a new position in Innovid in the fourth quarter valued at about $1,876,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new position in Innovid in the fourth quarter worth about $1,615,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

Innovid Stock Performance

Innovid stock opened at $3.14 on Tuesday. Innovid Corp. has a 12-month low of $1.50 and a 12-month high of $3.40. The firm has a market capitalization of $466.21 million, a price-to-earnings ratio of -34.89 and a beta of 3.25. The firm has a 50 day moving average of $3.12 and a 200 day moving average of $2.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating and set a $3.00 price target on shares of Innovid in a research report on Friday, November 22nd. JMP Securities cut shares of Innovid from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. Finally, Citizens Jmp cut shares of Innovid from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st.

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.