Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.2778.

Several research firms have recently commented on NEXN. Canaccord Genuity Group lowered their target price on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research report on Thursday, January 22nd. Rosenblatt Securities upped their price objective on Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Scotiabank lowered their target price on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 5th. Finally, Needham & Company LLC dropped their price target on shares of Nexxen International from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, March 4th.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the business. JB Capital Partners LP increased its position in Nexxen International by 1.8% during the second quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock worth $37,009,000 after acquiring an additional 62,540 shares during the period. Rock Point Advisors LLC lifted its stake in shares of Nexxen International by 42.5% in the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after purchasing an additional 283,295 shares during the period. Geode Capital Management LLC raised its holdings in shares of Nexxen International by 1,062.0% during the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after purchasing an additional 465,936 shares during the period. ARK Investment Management LLC bought a new stake in Nexxen International during the 3rd quarter valued at $1,798,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Nexxen International in the 3rd quarter valued at $1,239,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Price Performance

NASDAQ:NEXN opened at $6.91 on Wednesday. Nexxen International has a 52 week low of $5.60 and a 52 week high of $12.60. The stock’s fifty day moving average is $6.35 and its two-hundred day moving average is $7.34. The company has a market capitalization of $388.89 million, a P/E ratio of 16.85 and a beta of 1.69. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN) last announced its earnings results on Wednesday, March 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Nexxen International had a net margin of 6.87% and a return on equity of 9.47%. The business had revenue of $100.71 million for the quarter, compared to analyst estimates of $100.39 million. Equities analysts expect that Nexxen International will post 0.25 EPS for the current year.

Nexxen International announced that its board has initiated a stock repurchase program on Thursday, November 20th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.