Nexxen International’s (NEXN) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Nexxen International (NASDAQ:NEXN) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Nexxen International in a research note on Friday. Raymond James upgraded shares of Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Monday, May 5th. Rosenblatt Securities increased their price objective on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Canaccord Genuity Group increased their price objective 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, Craig Hallum assumed coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a “buy” rating and a $15.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nexxen International currently has a consensus rating of “Buy” and an average price target of $15.33.

Nexxen International Price Performance

Shares of NEXN stock opened at $10.62 on Friday. The company has a market capitalization of $673.49 million, a PE ratio of 265.50 and a beta of 1.78. The firm has a fifty day simple moving average of $9.38 and a 200-day simple moving average of $14.16. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. 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 initiated a share buyback program on Wednesday, March 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Advisors Preferred LLC bought a new position in shares of Nexxen International in the 4th quarter worth about $69,000. Virtu Financial LLC bought a new position in shares of Nexxen International in the 4th quarter worth about $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International in the 4th quarter worth about $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International in the 4th quarter worth about $121,000. Finally, Sei Investments Co. bought a new position in shares of Nexxen International in the 4th quarter worth about $127,000. 54.24% of the stock is currently owned by institutional investors.

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.