JPMorgan Chase & Co. Decreases Stake in Nexxen International Ltd. (NASDAQ:NEXN)

JPMorgan Chase & Co. lowered its stake in Nexxen International Ltd. (NASDAQ:NEXN) by 77.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,885 shares of the company’s stock after selling 45,113 shares during the quarter. JPMorgan Chase & Co.’s holdings in Nexxen International were worth $129,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NEXN. EntryPoint Capital LLC bought a new stake in Nexxen International during the 4th quarter valued at $149,000. Sei Investments Co. bought a new position in shares of Nexxen International during the fourth quarter valued at about $127,000. Virtu Financial LLC purchased a new stake in shares of Nexxen International during the fourth quarter worth about $110,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Nexxen International in the fourth quarter worth about $289,000. Finally, Independent Advisor Alliance purchased a new position in Nexxen International during the 4th quarter valued at about $190,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Nexxen International Price Performance

Shares of NASDAQ NEXN opened at $10.84 on Tuesday. The company has a 50 day simple moving average of $8.45 and a two-hundred day simple moving average of $14.63. Nexxen International Ltd. has a fifty-two week low of $6.93 and a fifty-two week high of $21.88. The company has a market capitalization of $687.44 million, a price-to-earnings ratio of 271.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43.

Nexxen International declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

NEXN has been the subject of several research analyst reports. Canaccord Genuity Group began coverage on Nexxen International in a report on Wednesday, March 26th. They issued a “buy” rating and a $12.00 price objective for the company. Scotiabank started coverage on Nexxen International in a research note on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target for the company. Rosenblatt Securities initiated coverage on shares of Nexxen International in a report on Tuesday, April 29th. They issued a “buy” rating and a $15.00 price objective for the company. Craig Hallum began coverage on shares of Nexxen International in a research report on Thursday, April 10th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Nexxen International in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.40.

Nexxen International 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.