Renaissance Technologies LLC Sells 248,900 Shares of Innovid Corp. (NYSE:CTV)

Renaissance Technologies LLC decreased its position in shares of Innovid Corp. (NYSE:CTV) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,581 shares of the company’s stock after selling 248,900 shares during the quarter. Renaissance Technologies LLC owned about 0.44% of Innovid worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Innovid during the first quarter valued at approximately $56,000. Lazard Asset Management LLC bought a new stake in shares of Innovid during the first quarter valued at approximately $58,000. American Century Companies Inc. bought a new stake in shares of Innovid during the second quarter valued at approximately $61,000. Rhumbline Advisers increased its holdings in shares of Innovid by 3,951.8% during the second quarter. Rhumbline Advisers now owns 116,893 shares of the company’s stock valued at $216,000 after acquiring an additional 114,008 shares in the last quarter. Finally, Legato Capital Management LLC bought a new stake in shares of Innovid during the second quarter valued at approximately $438,000. Institutional investors own 25.46% of the company’s stock.

Analysts Set New Price Targets

CTV has been the subject of several recent research reports. Morgan Stanley upped their price target on Innovid from $2.20 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price objective on shares of Innovid in a research report on Tuesday, August 6th.

Innovid Stock Up 0.6 %

Shares of NYSE CTV opened at $1.73 on Friday. The firm has a market capitalization of $249.83 million, a P/E ratio of -8.24 and a beta of 3.11. The stock’s 50-day simple moving average is $1.80 and its two-hundred day simple moving average is $1.99. Innovid Corp. has a twelve month low of $0.95 and a twelve month high of $2.58.

Innovid (NYSE:CTV) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $37.95 million during 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 quarter in the prior year, the company earned ($0.03) earnings per share. As a group, research analysts anticipate that Innovid Corp. will post -0.11 EPS for the current fiscal year.

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.