Harbor Capital Advisors Inc. Purchases Shares of 133,930 Nexxen International Ltd. Sponsored ADR $NEXN

Harbor Capital Advisors Inc. acquired a new position in Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,930 shares of the company’s stock, valued at approximately $1,239,000. Harbor Capital Advisors Inc. owned approximately 0.21% of Nexxen International at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State of Tennessee Department of Treasury lifted its stake in shares of Nexxen International by 470.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after purchasing an additional 27,110 shares during the period. Lazard Asset Management LLC raised its position in shares of Nexxen International by 173.4% in the second quarter. Lazard Asset Management LLC now owns 23,164 shares of the company’s stock worth $241,000 after acquiring an additional 14,692 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after acquiring an additional 95,219 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Nexxen International during the 2nd quarter worth about $25,000. Finally, JB Capital Partners LP grew its position in shares of Nexxen International by 1.8% during the 2nd quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock valued at $37,009,000 after acquiring an additional 62,540 shares during the period. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Stock Up 0.6%

Shares of NASDAQ NEXN opened at $6.70 on Friday. The company has a market capitalization of $380.22 million, a P/E ratio of 11.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. The company has a 50 day simple moving average of $7.15 and a 200-day simple moving average of $8.84. Nexxen International Ltd. Sponsored ADR has a 1 year low of $6.08 and a 1 year high of $12.60.

Nexxen International declared that its board has authorized a share repurchase program on Thursday, November 20th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NEXN shares. BTIG Research reduced their price target on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research note on Wednesday, October 8th. Canaccord Genuity Group dropped their price target on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Royal Bank Of Canada reduced their price objective on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Finally, Needham & Company LLC decreased their price objective on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

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.