Rosenblatt Securities Reiterates Buy Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the stock. Rosenblatt Securities’ price target points to a potential upside of 82.86% from the stock’s current price.

A number of other equities research analysts have also issued reports on NEXN. Scotiabank cut their price target on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 5th. Royal Bank Of Canada increased their price target on Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Canaccord Genuity Group cut their price target on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. BTIG Research increased their price target on Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC increased their price target on Nexxen International from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.06.

Nexxen International Stock Up 0.7%

NEXN opened at $8.75 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International has a 1-year low of $5.60 and a 1-year high of $11.59. The company has a market capitalization of $492.45 million, a PE ratio of 29.17 and a beta of 1.64. The firm’s 50 day simple moving average is $7.82 and its two-hundred day simple moving average is $6.93.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. The firm 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%. As a group, equities analysts forecast 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 on Wednesday, June 10th. The shares were sold at an average price of $8.74, for a total value of $51,758.28. Following the sale, the chief financial officer directly owned 495,050 shares in the company, valued at approximately $4,326,737. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 74,216 shares of company stock valued at $637,668.

Institutional Trading of Nexxen International

A number of institutional investors and hedge funds have recently bought and sold shares of NEXN. Geode Capital Management LLC increased its holdings in Nexxen International by 1,062.0% in 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 last quarter. Rhumbline Advisers increased its holdings in Nexxen International by 1,244.5% in the 2nd quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock valued at $624,000 after acquiring an additional 55,469 shares during the last quarter. New York State Common Retirement Fund bought a new stake in Nexxen International in the 2nd quarter valued at $124,000. California State Teachers Retirement System bought a new stake in Nexxen International in the 2nd quarter valued at $25,000. Finally, BNP Paribas Financial Markets increased its holdings in Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after acquiring an additional 95,219 shares during the last quarter. 54.24% of the stock is currently owned by 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.