JB Capital Partners LP Has $29.16 Million Stock Position in Nexxen International Ltd. Sponsored ADR $NEXN

JB Capital Partners LP increased its holdings in Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) by 2,490.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,492,557 shares of the company’s stock after acquiring an additional 3,357,707 shares during the period. Nexxen International comprises approximately 6.1% of JB Capital Partners LP’s portfolio, making the stock its 7th biggest holding. JB Capital Partners LP owned about 0.06% of Nexxen International worth $29,163,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NEXN. Jane Street Group LLC bought a new position in shares of Nexxen International in the fourth quarter valued at approximately $121,000. Jump Financial LLC bought a new position in shares of Nexxen International in the first quarter valued at approximately $146,000. Bank of America Corp DE grew its holdings in shares of Nexxen International by 1,898.3% in the fourth quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock valued at $151,000 after acquiring an additional 14,351 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Nexxen International in the first quarter valued at approximately $153,000. Finally, Cornerstone Investment Partners LLC bought a new position in Nexxen International during the first quarter valued at $174,000. 54.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NEXN. JMP Securities reissued a “market outperform” rating and set a $15.00 price objective on shares of Nexxen International in a report on Friday, May 23rd. Rosenblatt Securities reissued a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a report on Friday. Royal Bank Of Canada increased their price objective on Nexxen International from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Raymond James Financial raised Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday, May 5th. Finally, Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a report on Friday. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, Nexxen International currently has a consensus rating of “Buy” and a consensus price target of $15.00.

Nexxen International Stock Performance

Shares of NEXN opened at $10.17 on Friday. The stock’s 50-day simple moving average is $10.09 and its 200 day simple moving average is $9.68. The stock has a market capitalization of $644.98 million, a price-to-earnings ratio of 16.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. Nexxen International Ltd. Sponsored ADR has a 52-week low of $6.93 and a 52-week high of $12.60.

Nexxen International announced that its Board of Directors has initiated a share repurchase program on Friday, August 15th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Nexxen International

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.