Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Given Consensus Recommendation of “Buy” by Brokerages

by · The Markets Daily

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN – Get Free Report) has been assigned a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.8889.

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Canaccord Genuity Group raised their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Scotiabank boosted their target price on shares of Nexxen International from $11.00 to $13.00 and gave the company a “sector outperform” rating in a research report on Thursday, August 13th. Finally, Craig Hallum raised shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, July 9th.

Read Our Latest Stock Analysis on NEXN

Insider Activity at Nexxen International

In related news, CFO Sagi Niri sold 68,886 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $9.08, for a total transaction of $625,484.88. Following the sale, the chief financial officer directly owned 381,856 shares of the company’s stock, valued at approximately $3,467,252.48. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of Nexxen International stock in a transaction on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the transaction, the director directly owned 34,678 shares of the company’s stock, valued at $359,957.64. The trade was a 24.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 195,452 shares of company stock valued at $1,828,302.

Institutional Investors Weigh In On Nexxen International

A number of institutional investors have recently modified their holdings of NEXN. Rock Point Advisors LLC grew its holdings in Nexxen International by 42.5% in the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after purchasing an additional 283,295 shares during the period. Strs Ohio increased its position in shares of Nexxen International by 35.7% in the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock valued at $545,000 after buying an additional 21,900 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Nexxen International during the 2nd quarter worth approximately $826,000. Jump Financial LLC acquired a new position in shares of Nexxen International during the 4th quarter worth approximately $95,000. Finally, FourThought Financial Partners LLC purchased a new position in shares of Nexxen International during the 3rd quarter valued at approximately $168,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Stock Down 1.8%

NEXN opened at $9.39 on Wednesday. The company has a market capitalization of $534.76 million, a PE ratio of 42.68 and a beta of 1.60. The firm has a 50-day simple moving average of $10.05 and a two-hundred day simple moving average of $8.41. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30.

Nexxen International (NASDAQ:NEXN – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The company had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. Analysts forecast that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Nexxen International Company Profile

(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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.

See Also