Legato Capital Management LLC Purchases New Position in Innovid Corp. (NYSE:CTV)

Legato Capital Management LLC acquired a new stake in shares of Innovid Corp. (NYSE:CTV) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 236,806 shares of the company’s stock, valued at approximately $438,000.

A number of other hedge funds have also recently modified their holdings of CTV. SG Americas Securities LLC bought a new position in shares of Innovid during the first quarter valued at $56,000. Lazard Asset Management LLC purchased a new position in Innovid in the 1st quarter worth about $58,000. Bank of New York Mellon Corp lifted its stake in Innovid by 2,993.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 314,599 shares of the company’s stock valued at $582,000 after acquiring an additional 304,428 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Innovid by 174.3% during the 1st quarter. Acadian Asset Management LLC now owns 521,866 shares of the company’s stock valued at $1,297,000 after acquiring an additional 331,643 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Innovid by 6.5% during the first quarter. Vanguard Group Inc. now owns 4,555,974 shares of the company’s stock valued at $11,344,000 after purchasing an additional 279,830 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTV has been the topic of several research analyst reports. Morgan Stanley increased their price target on Innovid from $2.20 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. JMP Securities reissued a “market outperform” rating and issued a $3.00 target price on shares of Innovid in a report on Tuesday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of Innovid in a research report on Tuesday, August 6th.

Innovid Stock Performance

Shares of CTV traded down $0.02 during midday trading on Tuesday, hitting $1.79. 31,565 shares of the company traded hands, compared to its average volume of 380,577. The stock has a market cap of $257.78 million, a price-to-earnings ratio of -8.55 and a beta of 3.14. The firm has a 50 day moving average of $1.83 and a 200-day moving average of $2.00. Innovid Corp. has a 52 week low of $0.95 and a 52 week high of $2.58.

Innovid (NYSE:CTV) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.07) EPS 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 analysts’ expectations of $39.35 million. Innovid had a negative return on equity of 7.81% and a negative net margin of 20.24%. During the same period in the previous year, the business earned ($0.03) earnings per share. Sell-side analysts predict that Innovid Corp. will post -0.04 earnings per share 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.