Nexxen International (NASDAQ:NEXN) Raised to “Buy” at Craig Hallum

Nexxen International (NASDAQ:NEXN) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a $12.00 target price on the stock. Craig Hallum’s target price indicates a potential upside of 24.35% from the company’s current price.

Other research analysts have also issued research reports about the company. Scotiabank lifted their price target on Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 17th. Royal Bank Of Canada upped their price target on Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Wall Street Zen raised shares of Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research note on Wednesday, June 17th. Finally, BTIG Research raised their price target on Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.61.

Nexxen International Stock Up 0.3%

NEXN opened at $9.65 on Thursday. The company has a market cap of $543.10 million, a PE ratio of 32.17 and a beta of 1.62. Nexxen International has a twelve month low of $5.60 and a twelve month high of $11.59. The company has a 50-day moving average price of $8.48 and a 200 day moving average price of $7.23. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%.The firm had revenue of $86.84 million for the quarter. Sell-side analysts expect that Nexxen International will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Nexxen International

In other Nexxen International news, CFO Sagi Niri sold 49,826 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $9.54, for a total transaction of $475,340.04. Following the completion of the sale, the chief financial officer directly owned 332,030 shares of the company’s stock, valued at $3,167,566.20. This represents a 13.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 237,235 shares of company stock valued at $2,129,742 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEXN. California State Teachers Retirement System purchased a new stake in shares of Nexxen International during the 2nd quarter worth $25,000. Quantbot Technologies LP purchased a new stake in shares of Nexxen International in the 3rd quarter worth about $43,000. Jump Financial LLC purchased a new position in shares of Nexxen International during the 4th quarter worth approximately $95,000. New York State Common Retirement Fund acquired a new stake in Nexxen International during the 2nd quarter valued at $124,000. Finally, GAMMA Investing LLC raised its holdings in shares of Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock worth $149,000 after acquiring an additional 6,764 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.