Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives $12.50 Average Target Price from Brokerages

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.50.

A number of equities analysts have recently commented on the company. Needham & Company LLC dropped their target price on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Canaccord Genuity Group dropped their price objective on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Nexxen International in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research note on Thursday. Finally, Craig Hallum downgraded shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Thursday, November 13th.

Nexxen International Stock Up 0.9%

Shares of NASDAQ NEXN opened at $6.50 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International has a 12-month low of $5.72 and a 12-month high of $12.60. The firm’s 50-day moving average price is $6.42 and its 200-day moving average price is $8.27. The stock has a market capitalization of $368.87 million, a price-to-earnings ratio of 10.83 and a beta of 1.71.

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

Hedge Funds Weigh In On Nexxen International

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new stake in shares of Nexxen International during the second quarter valued at $25,000. Quantbot Technologies LP purchased a new stake in Nexxen International in the 3rd quarter valued at about $43,000. Police & Firemen s Retirement System of New Jersey bought a new position in Nexxen International in the 2nd quarter worth about $90,000. SG Americas Securities LLC purchased a new position in shares of Nexxen International during the third quarter worth approximately $102,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Nexxen International during the second quarter valued at approximately $124,000. Institutional investors own 54.24% of the company’s stock.

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.