Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, JMP Securities Analyst Says

Nexxen International (NASDAQ:NEXN) had its price objective raised by stock analysts at JMP Securities from $11.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 33.81% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities lifted their price target on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. Craig Hallum assumed coverage on shares of Nexxen International in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, Scotiabank assumed coverage on shares of 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Nexxen International Price Performance

Shares of NASDAQ NEXN opened at $11.21 on Thursday. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88. The firm has a fifty day simple moving average of $9.01 and a 200 day simple moving average of $14.37. The company has a market capitalization of $710.90 million, a PE ratio of 280.25 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. JB Capital Partners LP grew its holdings in shares of Nexxen International by 2,490.0% during the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock valued at $29,163,000 after buying an additional 3,357,707 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Nexxen International during the first quarter valued at about $146,000. Quantbot Technologies LP acquired a new position in shares of Nexxen International during the first quarter valued at about $153,000. Navellier & Associates Inc. grew its holdings in shares of Nexxen International by 1.2% during the first quarter. Navellier & Associates Inc. now owns 99,374 shares of the company’s stock valued at $830,000 after buying an additional 1,182 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in Nexxen International during the first quarter worth about $174,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.