Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Nexxen International (NASDAQ:NEXN) had its target price increased by equities research analysts at Raymond James Financial from $9.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price target points to a potential upside of 26.12% from the company’s current price.

A number of other equities analysts have also weighed in on NEXN. Canaccord Genuity Group cut their target price on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Needham & Company LLC lifted their price target on shares of Nexxen International from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank raised their price objective on shares of Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a report on Wednesday. BTIG Research raised their price objective on shares of Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada lifted their price target on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.17.

Nexxen International Trading Down 0.3%

NASDAQ NEXN traded down $0.03 during mid-day trading on Wednesday, reaching $8.72. 317,414 shares of the stock were exchanged, compared to its average volume of 325,725. Nexxen International has a 1-year low of $5.60 and a 1-year high of $11.59. The business’s fifty day simple moving average is $7.82 and its 200 day simple moving average is $6.93. The stock has a market capitalization of $490.87 million, a PE ratio of 29.17 and a beta of 1.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25.

Nexxen International (NASDAQ:NEXN) last announced its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (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 for the quarter. On average, research analysts anticipate that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sagi Niri sold 33,757 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.63, for a total transaction of $291,322.91. Following the transaction, the chief financial officer directly owned 533,823 shares of the company’s stock, valued at approximately $4,606,892.49. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,216 shares of company stock worth $637,668 over the last quarter.

Institutional Trading of Nexxen International

Several large investors have recently added to or reduced their stakes in NEXN. ARK Investment Management LLC acquired a new stake in shares of Nexxen International in the third quarter worth $1,798,000. Rock Point Advisors LLC lifted its stake in shares of Nexxen International by 42.5% in the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after buying an additional 283,295 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Nexxen International in the third quarter worth $43,000. FourThought Financial Partners LLC bought a new stake in Nexxen International in the 3rd quarter valued at $168,000. Finally, State of Tennessee Department of Treasury boosted its holdings in Nexxen International by 470.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after purchasing an additional 27,110 shares during the period. 54.24% of the stock is owned by institutional investors.

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.