Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Average Rating of “Moderate Buy” from Analysts

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.50.

A number of equities research analysts have recently commented on NEXN shares. Canaccord Genuity Group dropped their price target on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Craig Hallum lowered shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a research note on Thursday, November 13th. BTIG Research reduced their price target on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Needham & Company LLC dropped 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Nexxen International in a research note on Monday.

Institutional Investors Weigh In On Nexxen International

Several institutional investors have recently bought and sold shares of NEXN. California State Teachers Retirement System acquired a new position in Nexxen International during the 2nd quarter worth approximately $25,000. Navellier & Associates Inc. lifted its position in shares of Nexxen International by 4.0% in the third quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after purchasing an additional 4,200 shares in the last quarter. Quantbot Technologies LP acquired a new position in Nexxen International during the third quarter worth $43,000. Legato Capital Management LLC grew its position in Nexxen International by 54.4% in the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock valued at $187,000 after purchasing an additional 7,124 shares in the last quarter. Finally, Strs Ohio increased its stake in Nexxen International by 14.1% in the 3rd quarter. Strs Ohio now owns 61,400 shares of the company’s stock valued at $568,000 after buying an additional 7,600 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Performance

Shares of Nexxen International stock opened at $6.61 on Friday. The stock’s fifty day simple moving average is $7.07 and its 200 day simple moving average is $8.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $375.12 million, a PE ratio of 11.02 and a beta of 1.71. Nexxen International has a 12 month low of $6.08 and a 12 month high of $12.60.

Nexxen International announced that its Board of Directors has approved a share repurchase plan on Thursday, November 20th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are typically an indication 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.