BTIG Research Reaffirms “Buy” Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a report released on Wednesday, Benzinga reports. They presently have a $13.00 target price on the stock. BTIG Research‘s price target would indicate a potential upside of 44.77% from the company’s current price.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Craig Hallum upgraded shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, July 9th. Royal Bank Of Canada upped their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Nexxen International Stock Down 1.2%

Shares of NASDAQ:NEXN traded down $0.11 during trading hours on Wednesday, hitting $8.98. The company’s stock had a trading volume of 288,591 shares, compared to its average volume of 382,867. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $511.41 million, a price-to-earnings ratio of 40.82 and a beta of 1.61. The firm’s fifty day moving average price is $9.39 and its 200 day moving average price is $8.89.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The business had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. As a group, research analysts expect that Nexxen International will post 0.73 EPS for the current year.

Insider Transactions at Nexxen International

In other news, Director Daniel Kerstein sold 11,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the transaction, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sagi Niri sold 17,578 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total value of $184,744.78. Following the completion of the transaction, the chief financial officer directly owned 126,488 shares in the company, valued at $1,329,388.88. This represents a 12.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Nexxen International in the second quarter valued at about $826,000. SteelPeak Wealth LLC acquired a new stake in Nexxen International during the 3rd quarter worth about $188,000. State of Alaska Department of Revenue grew its position in Nexxen International by 20.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock worth $108,000 after purchasing an additional 2,048 shares during the period. Brandywine Trust Co. acquired a new stake in Nexxen International during the 2nd quarter worth about $143,000. Finally, Pinnacle Holdings LLC acquired a new stake in Nexxen International during the 2nd quarter worth about $42,000. 54.24% of the stock is owned by institutional investors and hedge funds.

About Nexxen International

Nexxen International Ltd. (NASDAQ: NEXN) is a global advertising technology company that provides solutions for advertisers, agencies and media owners. Its platform supports the planning, buying, measurement and optimization of digital advertising campaigns across connected television (CTV), online video, display and audio channels.

The company combines programmatic advertising capabilities with data, audience intelligence and measurement tools designed to help marketers reach and understand consumers across devices and media environments.