Nexxen International Ltd. Sponsored ADR $NEXN Shares Purchased by Rock Point Advisors LLC

Rock Point Advisors LLC increased its holdings in Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) by 14.9% in the third quarter, HoldingsChannel.com reports. The firm owned 667,222 shares of the company’s stock after buying an additional 86,415 shares during the quarter. Nexxen International makes up 1.6% of Rock Point Advisors LLC’s holdings, making the stock its 25th biggest holding. Rock Point Advisors LLC’s holdings in Nexxen International were worth $6,172,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. JB Capital Partners LP increased its position in shares of Nexxen International by 1.8% in the second quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock valued at $37,009,000 after buying an additional 62,540 shares in the last quarter. Geode Capital Management LLC grew its stake in Nexxen International by 1,062.0% in the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after acquiring an additional 465,936 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Nexxen International in the 3rd quarter worth $1,239,000. BNP Paribas Financial Markets increased its holdings in Nexxen International by 354.1% in 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. Finally, Navellier & Associates Inc. raised its position in Nexxen International by 4.0% during the third quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after acquiring an additional 4,200 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Analysts Set New Price Targets

NEXN has been the subject of several recent research reports. Royal Bank Of Canada reduced their price objective on Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Canaccord Genuity Group decreased their price target on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Nexxen International in a research report on Monday, December 29th. 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.22.

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $6.45 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $6.19 and a 200 day moving average price of $7.52. Nexxen International Ltd. Sponsored ADR has a 52 week low of $5.60 and a 52 week high of $12.60. The company has a market cap of $366.04 million, a P/E ratio of 10.75 and a beta of 1.69.

Nexxen International announced that its board has approved a share repurchase plan on Thursday, November 20th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Nexxen International

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.