Nexxen International Ltd. (NASDAQ:NEXN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.00.

A number of brokerages have commented on NEXN. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Nexxen International in a research note on Thursday, March 6th. Scotiabank assumed coverage on Nexxen International in a report on Monday. They issued a “sector outperform” rating and a $17.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Canaccord Genuity Group started coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They set a “buy” rating and a $12.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th.

Hedge Funds Weigh In On Nexxen International

Several large investors have recently added to or reduced their stakes in NEXN. Quadrature Capital Ltd acquired a new position in Nexxen International during the 3rd quarter valued at approximately $123,000. Tidal Investments LLC raised its position in Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after acquiring an additional 2,125 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Nexxen International by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after purchasing an additional 11,346 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after acquiring an additional 8,027 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at $69,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $8.51 on Wednesday. The firm’s fifty day simple moving average is $12.07 and its 200 day simple moving average is $15.87. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88. The firm has a market capitalization of $539.68 million, a price-to-earnings ratio of 212.75 and a beta of 1.91.

Nexxen International declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.