Brokerages Set Nexxen International Ltd. (NASDAQ:NEXN) Price Target at $16.75

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.75.

NEXN has been the subject of several analyst reports. Canaccord Genuity Group began coverage on shares of Nexxen International in a research note on Wednesday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th. Craig Hallum assumed coverage on Nexxen International in a report on Thursday, April 10th. They issued a “buy” rating and a $15.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. Finally, Scotiabank started coverage on Nexxen International in a research note on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 target price for the company.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $8.95 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $567.58 million, a P/E ratio of 223.75 and a beta of 1.81. The firm has a 50-day moving average price of $8.36 and a two-hundred day moving average price of $15.01. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88.

Nexxen International declared that its board has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

A number of hedge funds have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in Nexxen International during the 4th quarter valued at $69,000. GAMMA Investing LLC boosted its position in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the fourth quarter valued at about $110,000. D.A. Davidson & CO. purchased a new stake in shares of Nexxen International during the fourth quarter worth about $121,000. Finally, Jane Street Group LLC acquired a new position in shares of Nexxen International in the fourth quarter worth about $121,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.