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

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

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings upgraded Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Scotiabank increased their target price on Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 13th. Royal Bank Of Canada increased their target price on Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Needham & Company LLC raised their price objective on Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Craig Hallum raised Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.89.

Nexxen International Trading Down 1.2%

Shares of Nexxen International stock traded down $0.11 during trading on Wednesday, hitting $8.98. 288,591 shares of the company were exchanged, compared to its average volume of 382,867. Nexxen International has a 1-year low of $5.60 and a 1-year 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 firm has a market capitalization of $511.41 million, a P/E 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 released its quarterly earnings data 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 return on equity of 7.03% and a net margin of 3.41%. As a group, sell-side analysts expect that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel Kerstein sold 11,000 shares of Nexxen International 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 completion of the sale, the director owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sagi Niri sold 17,578 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the sale, the chief financial officer directly owned 126,488 shares in the company, valued at approximately $1,329,388.88. The trade was a 12.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On Nexxen International

Several institutional investors have recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new position in shares of Nexxen International in the third quarter worth $188,000. State of Alaska Department of Revenue grew 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 worth $108,000 after buying an additional 2,048 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Nexxen International in the 2nd quarter valued at approximately $826,000. Brandywine Trust Co. bought a new position in Nexxen International in the 2nd quarter valued at approximately $143,000. Finally, Pinnacle Holdings LLC bought a new position in shares of Nexxen International during the 2nd quarter valued at $42,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.