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

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.00.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Tidal Investments LLC grew its holdings 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 purchasing an additional 2,125 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Nexxen International in the 4th quarter worth $69,000. GAMMA Investing LLC grew its stake in 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 buying an additional 8,027 shares during the last quarter. Virtu Financial LLC purchased a new position in Nexxen International during the 4th quarter worth $110,000. Finally, JPMorgan Chase & Co. increased its position in Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after buying an additional 11,346 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Up 0.4 %

Shares of NASDAQ:NEXN traded up $0.03 during trading on Wednesday, reaching $7.85. 43,422 shares of the company were exchanged, compared to its average volume of 296,742. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $497.82 million, a PE ratio of 196.25 and a beta of 1.91. The business’s fifty day simple moving average is $13.29 and its 200-day simple moving average is $16.11. Nexxen International has a 12-month low of $4.83 and a 12-month high of $11.00.

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

Nexxen International Company Profile

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.