Nexxen International (NASDAQ:NEXN) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $9.00 and traded as high as $9.10. Nexxen International shares last traded at $9.07, with a volume of 852,480 shares.

Analyst Ratings Changes

A number of research firms recently commented on NEXN. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 price target on shares of Nexxen International in a report on Thursday, August 13th. Royal Bank Of Canada raised their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Zacks Research cut shares of Nexxen International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group boosted their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Nexxen International Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The company has a market cap of $515.40 million, a P/E ratio of 15.84 and a beta of 1.65. The business has a fifty day moving average of $8.98 and a 200 day moving average of $8.33.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $100.52 million for the quarter, compared to analysts’ expectations of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. On average, equities analysts predict that Nexxen International Ltd. Sponsored ADR will post 0.73 EPS for the current year.

Insider Activity at Nexxen International

In other news, Director Daniel Kerstein sold 11,000 shares of Nexxen International stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the sale, the director owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors have recently bought and sold shares of NEXN. Ritholtz Wealth Management purchased a new stake in Nexxen International in the third quarter worth about $406,000. CenterBook Partners LP bought a new position in shares of Nexxen International in the 3rd quarter worth approximately $298,000. State of Wyoming raised its position in shares of Nexxen International by 9.8% in the 3rd quarter. State of Wyoming now owns 21,497 shares of the company’s stock worth $193,000 after acquiring an additional 1,924 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of Nexxen International in the 3rd quarter worth approximately $188,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Nexxen International by 20.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock valued at $108,000 after purchasing an additional 2,048 shares during the period. 54.24% of the stock is owned by institutional investors.

About Nexxen International

Nexxen International Ltd. is an advertising technology company that connects advertisers and media owners through software for planning, buying, selling and measuring digital advertising. Its platform supports campaigns across connected television, online video and mobile channels. The company offers demand-side tools for advertisers, supply-side tools for publishers and media owners, and data solutions intended to help target and evaluate campaigns. Nexxen serves customers in multiple markets, including North America, Europe and Asia-Pacific.