Nexxen International’s (NEXN) “Buy” Rating Reaffirmed at BTIG Research

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating restated by analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. BTIG Research‘s target price suggests a potential upside of 44.77% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $16.00 target price on shares of Nexxen International 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 for the company in a report on Thursday, July 9th. Royal Bank Of Canada lifted 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. Needham & Company LLC boosted their price objective on shares of Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen raised shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.89.

Nexxen International Trading Down 1.2%

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

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The company had revenue of $100.52 million for the quarter, compared to analyst estimates of $93.09 million. On average, analysts anticipate that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Nexxen International

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SteelPeak Wealth LLC purchased a new position in Nexxen International during the 3rd quarter worth $188,000. State of Alaska Department of Revenue increased its holdings 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Nexxen International in the 2nd quarter worth approximately $826,000. Brandywine Trust Co. purchased a new stake in shares of Nexxen International in the 2nd quarter worth approximately $143,000. Finally, Pinnacle Holdings LLC purchased a new stake in shares of Nexxen International in the 2nd quarter worth approximately $42,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Company Profile

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.