BTIG Research Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its price target hoisted by equities research analysts at BTIG Research from $9.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 14.29% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada upped their target price on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Rosenblatt Securities upped their target price on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Needham & Company LLC upped their target price on shares of Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen raised shares of Nexxen International from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Canaccord Genuity Group lowered their target price on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.06.

Nexxen International Trading Up 0.7%

Shares of NASDAQ NEXN opened at $8.75 on Tuesday. The company’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $6.93. Nexxen International has a fifty-two week low of $5.60 and a fifty-two week high of $11.59. The firm has a market capitalization of $492.45 million, a P/E ratio of 29.17 and a beta of 1.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. The firm had revenue of $86.84 million during the quarter. On average, analysts predict that Nexxen International will post 0.73 EPS for the current year.

Insider Activity

In other news, CFO Sagi Niri sold 5,922 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $8.74, for a total transaction of $51,758.28. Following the completion of the sale, the chief financial officer owned 495,050 shares of the company’s stock, valued at $4,326,737. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,216 shares of company stock worth $637,668 over the last ninety days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System acquired a new position in Nexxen International during the second quarter worth $25,000. Quantbot Technologies LP acquired a new position in Nexxen International during the third quarter worth $43,000. Legato Capital Management LLC boosted its holdings in Nexxen International by 23.8% during the fourth quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock worth $164,000 after purchasing an additional 4,815 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Nexxen International during the second quarter worth $124,000. Finally, Jump Financial LLC acquired a new position in Nexxen International during the fourth quarter worth $95,000. Institutional investors and hedge funds 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.