Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Stock Has Consensus Price Target of $12.89 According to Analysts

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.89.

NEXN has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 target price on shares of Nexxen International in a research report on Thursday, August 13th. Weiss Ratings upgraded Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Canaccord Genuity Group lifted their price target on Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Craig Hallum raised Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada upped their price objective on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th.

Nexxen International Stock Down 1.9%

Shares of NASDAQ NEXN opened at $8.88 on Thursday. Nexxen International has a 12 month low of $5.60 and a 12 month high of $11.30. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $505.72 million, a price-to-earnings ratio of 40.37 and a beta of 1.61. The business has a 50-day moving average of $9.29 and a 200-day moving average of $8.92.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $100.52 million for the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. Sell-side analysts expect that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Nexxen International

In other Nexxen International news, CFO Sagi Niri sold 17,578 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total value of $184,744.78. Following the completion of the sale, the chief financial officer owned 126,488 shares of the company’s stock, valued at $1,329,388.88. This represents a 12.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $114,180.00. Following the completion of the sale, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This represents a 24.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. SteelPeak Wealth LLC bought a new stake in shares of Nexxen International in the 3rd quarter worth approximately $188,000. State of Alaska Department of Revenue grew its holdings in shares of Nexxen International by 20.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock valued at $108,000 after purchasing an additional 2,048 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Nexxen International during the 2nd quarter valued at $826,000. Brandywine Trust Co. purchased a new position in Nexxen International in the 2nd quarter worth $143,000. Finally, Pinnacle Holdings LLC purchased a new position in Nexxen International in the 2nd quarter worth $42,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

About Nexxen International

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.