Bank of New York Mellon Corp Has $582,000 Position in Innovid Corp. (NYSE:CTV)

Bank of New York Mellon Corp raised its stake in shares of Innovid Corp. (NYSE:CTV) by 2,993.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,599 shares of the company’s stock after purchasing an additional 304,428 shares during the period. Bank of New York Mellon Corp owned 0.22% of Innovid worth $582,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTV. SG Americas Securities LLC bought a new position in Innovid in the 1st quarter worth approximately $56,000. Lazard Asset Management LLC bought a new stake in Innovid in the 1st quarter valued at $58,000. Acadian Asset Management LLC grew its position in Innovid by 174.3% in the 1st quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock worth $1,297,000 after purchasing an additional 331,643 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 279,830 shares during the period. Institutional investors own 25.46% of the company’s stock.

Innovid Stock Down 6.5 %

Shares of CTV stock opened at $1.73 on Tuesday. Innovid Corp. has a 12 month low of $0.95 and a 12 month high of $2.58. The stock has a 50-day moving average price of $1.83 and a 200 day moving average price of $2.01. The firm has a market cap of $249.83 million, a price-to-earnings ratio of -8.24 and a beta of 3.11.

Innovid (NYSE:CTV) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $37.95 million for the quarter, compared to the consensus estimate of $39.35 million. Innovid had a negative return on equity of 10.97% and a negative net margin of 14.15%. During the same period in the previous year, the business earned ($0.03) EPS. Sell-side analysts predict that Innovid Corp. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $3.00 target price on shares of Innovid in a research note on Tuesday, August 6th. JMP Securities restated a “market outperform” rating and issued a $3.00 price objective on shares of Innovid in a research note on Tuesday, June 4th. Finally, Morgan Stanley lifted their target price on shares of Innovid from $2.20 to $2.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

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.