Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.60.

NEXN has been the subject of a number of research analyst reports. Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Royal Bank Of Canada dropped their price target on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Rosenblatt Securities reissued a “buy” rating and issued a $16.00 price objective on shares of Nexxen International in a research note on Friday, August 22nd. Canaccord Genuity Group decreased their price objective on Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research note on Wednesday, October 8th.

Read Our Latest Stock Analysis on NEXN

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $6.47 on Monday. The firm has a 50 day simple moving average of $7.77 and a 200 day simple moving average of $9.29. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $367.17 million, a PE ratio of 10.78 and a beta of 1.71.

Nexxen International announced that its board has approved a stock repurchase program on Friday, August 15th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. JB Capital Partners LP raised its stake in shares of Nexxen International by 2,490.0% during the 1st quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock worth $29,163,000 after purchasing an additional 3,357,707 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nexxen International by 1,062.0% in the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after buying an additional 465,936 shares in the last quarter. ARK Investment Management LLC acquired a new position in Nexxen International in the third quarter worth approximately $1,798,000. Harbor Capital Advisors Inc. bought a new position in Nexxen International during the third quarter valued at approximately $1,239,000. Finally, BNP Paribas Financial Markets raised its position in Nexxen International by 354.1% during the second quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after acquiring an additional 95,219 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.

About Nexxen International

(Get Free Report)

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.

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