Insider Selling: Nexxen International (NASDAQ:NEXN) CFO Sells 18,660 Shares of Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) CFO Sagi Niri sold 18,660 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $8.52, for a total transaction of $158,983.20. Following the completion of the sale, the chief financial officer directly owned 514,136 shares in the company, valued at approximately $4,380,438.72. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sagi Niri also recently made the following trade(s):

• On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The shares were sold at an average price of $8.58, for a total transaction of $8,811.66.
• On Monday, June 1st, Sagi Niri sold 33,757 shares of Nexxen International stock. The shares were sold at an average price of $8.63, for a total transaction of $291,322.91.
• On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The shares were sold at an average price of $8.50, for a total transaction of $12,631.00.

Nexxen International Stock Performance

Shares of NEXN stock traded up $0.37 on Thursday, reaching $8.60. The stock had a trading volume of 114,058 shares, compared to its average volume of 334,458. 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 firm’s 50-day moving average is $7.45 and its two-hundred day moving average is $6.79. The firm has a market capitalization of $483.99 million, a price-to-earnings ratio of 28.58 and a beta of 1.64. Nexxen International Ltd. Sponsored ADR has a 12 month low of $5.60 and a 12 month high of $11.59.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $86.84 million for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. On average, research analysts expect that Nexxen International Ltd. Sponsored ADR will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently bought and sold shares of NEXN. Geode Capital Management LLC raised 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 worth $5,307,000 after purchasing an additional 465,936 shares during the period. Rhumbline Advisers increased its holdings in shares of Nexxen International by 1,244.5% during the second quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock valued at $624,000 after purchasing an additional 55,469 shares during the period. New York State Common Retirement Fund acquired a new position in shares of Nexxen International during the second quarter valued at $124,000. California State Teachers Retirement System acquired a new position in shares of Nexxen International during the 2nd quarter valued at $25,000. Finally, BNP Paribas Financial Markets increased its position in shares of Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after purchasing an additional 95,219 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NEXN shares. Rosenblatt Securities raised their target price on shares of Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Royal Bank Of Canada raised their target price on shares of Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Scotiabank lowered their target price on shares of Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 5th. Needham & Company LLC raised their target price on shares of Nexxen International from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Nexxen International from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and an average target price of $10.69.

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. 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.