Nexxen International (NASDAQ:NEXN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nexxen International (NASDAQ:NEXN) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on NEXN. Craig Hallum upgraded shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, July 9th. Scotiabank lifted their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a research note on Thursday, August 13th. Needham & Company LLC boosted their price target on shares of Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Finally, Raymond James Financial increased their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Nexxen International Trading Up 0.6%

NEXN opened at $10.53 on Friday. The business has a fifty day moving average price of $9.66 and a 200 day moving average price of $7.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26. Nexxen International has a 12 month low of $5.60 and a 12 month high of $11.30. The stock has a market capitalization of $592.63 million, a price-to-earnings ratio of 47.87 and a beta of 1.59.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $100.52 million for the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. Sell-side analysts expect that Nexxen International will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Sagi Niri sold 68,886 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88. Following the sale, the chief financial officer owned 381,856 shares of the company’s stock, valued at approximately $3,467,252.48. This trade represents a 15.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 258,468 shares of company stock worth $2,350,050.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEXN. California State Teachers Retirement System purchased a new position in Nexxen International in the second quarter valued at approximately $25,000. Pinnacle Holdings LLC purchased a new stake in shares of Nexxen International during the 2nd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new position in shares of Nexxen International in the 3rd quarter valued at $43,000. Legato Capital Management LLC boosted its holdings in shares of Nexxen International by 23.8% in the 4th quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock valued at $164,000 after buying an additional 4,815 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Nexxen International by 69.5% in the 2nd quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after buying an additional 6,764 shares during the last quarter. 54.24% of the stock is 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.