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

Nexxen International (NASDAQ:NEXN) had its target price increased by investment analysts at Rosenblatt Securities from $15.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price target points to a potential upside of 42.73% from the stock’s current price.

NEXN has been the subject of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Scotiabank started coverage on shares of Nexxen International in a research report on Monday, March 31st. They set a “sector outperform” rating and a $17.00 price target for the company. 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. Canaccord Genuity Group lifted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Finally, Raymond James upgraded shares of Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Nexxen International Trading Down 3.4%

Shares of NASDAQ NEXN opened at $11.21 on Thursday. Nexxen International has a 1-year low of $6.93 and a 1-year high of $21.88. The company has a market cap of $710.90 million, a PE ratio of 280.25 and a beta of 1.78. 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 50-day moving average of $9.01 and a two-hundred day moving average of $14.37.

Nexxen International declared that its board has approved a stock buyback plan on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Nexxen International

Several institutional investors and hedge funds have recently modified their holdings of NEXN. JB Capital Partners LP lifted its position in 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 worth $29,163,000 after purchasing an additional 3,357,707 shares during the period. Rock Point Advisors LLC lifted its position in Nexxen International by 32.7% during the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company’s stock worth $5,373,000 after purchasing an additional 158,397 shares during the period. Rice Hall James & Associates LLC lifted its position in Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after purchasing an additional 262,961 shares during the period. Renaissance Technologies LLC lifted its position in Nexxen International by 176.1% during the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after purchasing an additional 276,600 shares during the period. Finally, Marshall Wace LLP lifted its position in Nexxen International by 471.0% during the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after purchasing an additional 315,864 shares during the period. 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.