Royal Bank Of Canada Has Lowered Expectations for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its price objective lowered by Royal Bank Of Canada from $14.00 to $12.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 91.85% from the company’s current price.

NEXN has been the subject of several other reports. Citizens Jmp decreased their target price on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Friday. BTIG Research decreased their price objective on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $16.00 target price on shares of Nexxen International in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Finally, Craig Hallum downgraded Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a report on Thursday. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.80.

Nexxen International Stock Down 1.0%

NEXN stock traded down $0.07 during trading on Friday, reaching $6.26. 236,752 shares of the stock were exchanged, compared to its average volume of 420,286. The firm’s 50 day moving average is $8.76 and its 200 day moving average is $9.83. The firm has a market cap of $396.69 million, a P/E ratio of 9.93 and a beta of 1.70. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. Nexxen International has a twelve month low of $6.08 and a twelve month high of $12.60.

Nexxen International declared that its board has authorized a stock repurchase program on Friday, August 15th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

Institutional investors have recently added to or reduced their stakes in the stock. JB Capital Partners LP boosted its position in shares of Nexxen International by 2,490.0% in the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock valued at $29,163,000 after acquiring an additional 3,357,707 shares during the period. Quantbot Technologies LP bought a new stake in Nexxen International during the 1st quarter worth approximately $153,000. Jump Financial LLC purchased a new stake in Nexxen International in the 1st quarter worth approximately $146,000. State of Tennessee Department of Treasury grew its position in shares of Nexxen International by 470.3% during the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after purchasing an additional 27,110 shares in the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of Nexxen International in the third quarter worth $168,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.