Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Scotiabank Analyst Says

Nexxen International (NASDAQ:NEXN) had its price objective increased by stock analysts at Scotiabank from $10.00 to $11.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 25.41% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada raised their target price on Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Canaccord Genuity Group dropped their target price on Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. BTIG Research raised their target price on Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 target price on shares of Nexxen International in a report on Wednesday. Finally, Needham & Company LLC raised their target price on Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.19.

Nexxen International Stock Up 0.2%

Shares of NASDAQ:NEXN traded up $0.02 during mid-day trading on Wednesday, hitting $8.77. 124,722 shares of the company traded hands, compared to its average volume of 324,195. The firm has a market cap of $493.63 million, a P/E ratio of 29.36 and a beta of 1.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. Nexxen International has a 52-week low of $5.60 and a 52-week high of $11.59. The firm’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $6.93.

Nexxen International (NASDAQ:NEXN) last announced its earnings results on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. The business had revenue of $86.84 million for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. On average, equities analysts anticipate that Nexxen International will post 0.73 EPS for the current year.

Insider Transactions at Nexxen International

In other Nexxen International news, CFO Sagi Niri sold 5,922 shares of Nexxen International stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $8.74, for a total transaction of $51,758.28. Following the sale, the chief financial officer directly owned 495,050 shares in the company, valued at $4,326,737. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 74,216 shares of company stock worth $637,668.

Institutional Investors Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently bought and sold shares of NEXN. Geode Capital Management LLC increased its holdings in 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 last quarter. Rhumbline Advisers increased its holdings in Nexxen International by 1,244.5% during the 2nd quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock worth $624,000 after purchasing an additional 55,469 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Nexxen International during the 2nd quarter worth approximately $124,000. California State Teachers Retirement System purchased a new stake in Nexxen International during the 2nd quarter worth approximately $25,000. Finally, BNP Paribas Financial Markets increased its holdings in Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after purchasing an additional 95,219 shares during the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.