Nexxen International (NASDAQ:NEXN) Price Target Raised to $14.00

Nexxen International (NASDAQ:NEXN) had its price target lifted by research analysts at Royal Bank Of Canada from $13.00 to $14.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective points to a potential upside of 33.97% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price objective on shares of Nexxen International in a research note on Thursday, August 13th. Zacks Research lowered Nexxen International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. BTIG Research reissued a “buy” rating and issued a $13.00 price target on shares of Nexxen International in a research note on Wednesday, October 21st. Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Nexxen International Stock Up 2.4%

NEXN stock traded up $0.24 during midday trading on Friday, reaching $10.45. 185,713 shares of the company’s stock traded hands, compared to its average volume of 393,043. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $8.98 and its 200-day moving average price is $8.35. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30. The company has a market cap of $595.14 million, a price-to-earnings ratio of 47.38 and a beta of 1.65.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Thursday, November 12th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The business had revenue of $102.93 million for the quarter, compared to analysts’ expectations of $100.14 million. As a group, sell-side analysts forecast that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nexxen International news, Director Daniel Kerstein sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $10.38, for a total transaction of $114,180.00. Following the sale, the director directly owned 34,678 shares in the company, valued at $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Institutional Trading of Nexxen International

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Nexxen International in the 2nd quarter worth $826,000. Ritholtz Wealth Management acquired a new stake in Nexxen International in the third quarter worth about $406,000. CenterBook Partners LP acquired a new position in Nexxen International during the 3rd quarter valued at approximately $298,000. State of Wyoming lifted its position in Nexxen International by 9.8% during the 3rd quarter. State of Wyoming now owns 21,497 shares of the company’s stock worth $193,000 after acquiring an additional 1,924 shares during the period. Finally, SteelPeak Wealth LLC acquired a new position in shares of Nexxen International in the third quarter valued at about $188,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is an advertising technology company that connects advertisers and media owners through software for planning, buying, selling and measuring digital advertising. Its platform supports campaigns across connected television, online video and mobile channels. The company offers demand-side tools for advertisers, supply-side tools for publishers and media owners, and data solutions intended to help target and evaluate campaigns. Nexxen serves customers in multiple markets, including North America, Europe and Asia-Pacific.