Magnetar Financial LLC Acquires Shares of 4,728,100 Innovid Corp. (NYSE:CTV)

Magnetar Financial LLC acquired a new stake in Innovid Corp. (NYSE:CTV) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,728,100 shares of the company’s stock, valued at approximately $14,610,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its stake in shares of Innovid by 351.3% in the 4th quarter. Intech Investment Management LLC now owns 53,346 shares of the company’s stock valued at $165,000 after purchasing an additional 41,526 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Innovid in the 4th quarter valued at about $31,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Innovid in the 4th quarter valued at about $157,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Innovid by 9.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 439,818 shares of the company’s stock valued at $1,359,000 after purchasing an additional 37,397 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Innovid by 18.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,931 shares of the company’s stock valued at $1,053,000 after purchasing an additional 53,607 shares in the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTV shares. Needham & Company LLC restated a “hold” rating and issued a $3.00 target price on shares of Innovid in a research note on Friday, November 22nd. Citizens Jmp lowered shares of Innovid from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. Finally, JMP Securities lowered shares of Innovid from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 21st.

Innovid Price Performance

CTV opened at $3.14 on Thursday. The firm has a market cap of $466.21 million, a price-to-earnings ratio of -34.89 and a beta of 3.25. Innovid Corp. has a fifty-two week low of $1.50 and a fifty-two week high of $3.40. The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $2.58.

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.