Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Stock Has Average Target Price of $12.89

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $12.89.

A number of research firms have commented on NEXN. Canaccord Genuity Group lifted their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Needham & Company LLC upped their target price 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. Scotiabank increased their price target on Nexxen International from $11.00 to $13.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 13th. Wall Street Zen upgraded Nexxen International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Thursday, August 13th.

Nexxen International Stock Down 2.5%

Shares of NASDAQ NEXN opened at $8.66 on Thursday. The firm has a market capitalization of $493.19 million, a PE ratio of 15.86 and a beta of 1.61. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. Nexxen International has a 1 year low of $5.60 and a 1 year high of $11.30. The firm’s 50-day moving average is $9.31 and its 200-day moving average is $8.15.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping 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 company had revenue of $100.52 million during the quarter, compared to analysts’ expectations of $93.09 million. Equities analysts expect that Nexxen International will post 0.73 EPS for the current year.

Insider Buying and Selling at Nexxen International

In related news, Director Daniel Kerstein sold 11,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NEXN. Public Employees Retirement System of Ohio acquired a new stake in Nexxen International during the 2nd quarter worth $826,000. SteelPeak Wealth LLC acquired a new position in Nexxen International in the third quarter valued at about $188,000. GAMMA Investing LLC increased its holdings in shares of Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock worth $149,000 after acquiring an additional 6,764 shares in the last quarter. Brandywine Trust Co. bought a new stake in shares of Nexxen International in the second quarter worth about $143,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Nexxen International by 20.4% in the third quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock worth $108,000 after acquiring an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.