Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives $12.60 Average PT from Analysts

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $12.50.

Several analysts have recently commented on the stock. Citizens Jmp dropped their price objective on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th. Royal Bank Of Canada lowered their price target on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Nexxen International in a research report on Monday. Craig Hallum cut Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Thursday, November 13th. Finally, BTIG Research lowered their target price on Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th.

Nexxen International Trading Down 1.1%

Nexxen International stock opened at $6.54 on Friday. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60. The stock has a 50-day moving average price of $6.99 and a 200 day moving average price of $8.74. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $371.14 million, a price-to-earnings ratio of 10.90 and a beta of 1.71.

Nexxen International declared that its Board of Directors has initiated a share buyback plan on Thursday, November 20th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

Several institutional investors have recently made changes to their positions in the company. JB Capital Partners LP boosted its holdings in Nexxen International by 1.8% during the second quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock worth $37,009,000 after buying an additional 62,540 shares in the last quarter. Rock Point Advisors LLC boosted its stake in shares of Nexxen International by 14.9% during the 3rd quarter. Rock Point Advisors LLC now owns 667,222 shares of the company’s stock worth $6,172,000 after acquiring an additional 86,415 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after acquiring an additional 465,936 shares during the period. ARK Investment Management LLC acquired a new stake in shares of Nexxen International during the 3rd quarter valued at about $1,798,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Nexxen International in the 3rd quarter valued at about $1,239,000. 54.24% of the stock is 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. 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.