Innovid (NYSE:CTV) Downgraded by JMP Securities to “Market Perform”

JMP Securities lowered shares of Innovid (NYSE:CTV) from an outperform rating to a market perform rating in a research report report published on Thursday, Marketbeat reports.

Separately, Needham & Company LLC reissued a “buy” rating and set a $3.00 target price on shares of Innovid in a research report on Wednesday, November 13th.

Innovid Price Performance

NYSE:CTV opened at $3.02 on Thursday. The firm has a 50-day moving average of $1.86 and a 200-day moving average of $1.89. The company has a market cap of $441.78 million, a PE ratio of -33.53 and a beta of 3.08. Innovid has a one year low of $1.25 and a one year high of $3.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Innovid by 590.2% in the third quarter. FMR LLC now owns 15,413 shares of the company’s stock valued at $28,000 after acquiring an additional 13,180 shares during the last quarter. Miller Investment Management LP purchased a new position in Innovid in the third quarter valued at about $36,000. SG Americas Securities LLC purchased a new position in Innovid in the first quarter valued at about $56,000. Lazard Asset Management LLC purchased a new stake in shares of Innovid during the 1st quarter valued at approximately $58,000. Finally, American Century Companies Inc. purchased a new stake in shares of Innovid during the 2nd quarter valued at approximately $61,000. 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.