Nexxen International (NASDAQ:NEXN) Price Target Lowered to $9.00 at Needham & Company LLC

Nexxen International (NASDAQ:NEXN) had its price objective reduced by equities researchers at Needham & Company LLC from $14.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 41.29% from the stock’s current price.

NEXN has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Wall Street Zen cut Nexxen International from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $16.00 target price on shares of Nexxen International in a research report on Friday, August 22nd. Finally, BTIG Research initiated coverage on Nexxen International in a research note on Tuesday, October 7th. They set a “buy” rating and a $13.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and a consensus price target of $13.11.

Nexxen International Trading Down 20.8%

Shares of NASDAQ:NEXN traded down $1.67 during midday trading on Thursday, hitting $6.37. 1,341,812 shares of the stock were exchanged, compared to its average volume of 419,665. The business’s 50-day moving average price is $8.82 and its 200 day moving average price is $9.86. Nexxen International has a 12 month low of $6.08 and a 12 month high of $12.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $403.99 million, a price-to-earnings ratio of 10.11 and a beta of 1.70.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, November 13th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Nexxen International had a return on equity of 13.64% and a net margin of 13.37%. Nexxen International has set its FY 2025 guidance at EPS. Analysts predict that Nexxen International will post 0.25 earnings per share for the current year.

Nexxen International announced that its Board of Directors has authorized a stock repurchase program on Friday, August 15th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in NEXN. FourThought Financial Partners LLC purchased a new position in Nexxen International during the third quarter worth about $168,000. ARK Investment Management LLC bought a new position in shares of Nexxen International in the third quarter worth approximately $1,798,000. Rock Point Advisors LLC raised its stake in Nexxen International by 14.9% in the third quarter. Rock Point Advisors LLC now owns 667,222 shares of the company’s stock valued at $6,172,000 after purchasing an additional 86,415 shares in the last quarter. Legato Capital Management LLC lifted its position in Nexxen International by 54.4% during the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock valued at $187,000 after purchasing an additional 7,124 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Nexxen International during the 3rd quarter valued at $43,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Company Profile

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.