Two Sigma Investments LP Purchases New Position in Nexxen International Ltd. (NASDAQ:NEXN)

Two Sigma Investments LP purchased a new stake in shares of Nexxen International Ltd. (NASDAQ:NEXN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,173 shares of the company’s stock, valued at approximately $593,000. Two Sigma Investments LP owned about 0.09% of Nexxen International at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new stake in Nexxen International during the fourth quarter valued at approximately $69,000. Virtu Financial LLC purchased a new stake in Nexxen International during the fourth quarter valued at approximately $110,000. D.A. Davidson & CO. purchased a new stake in Nexxen International during the fourth quarter valued at approximately $121,000. Jane Street Group LLC purchased a new stake in Nexxen International during the fourth quarter valued at approximately $121,000. Finally, Sei Investments Co. purchased a new stake in Nexxen International during the fourth quarter valued at approximately $127,000. 54.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NEXN has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and set a $15.00 price objective on shares of Nexxen International in a research report on Friday, May 23rd. Craig Hallum began coverage on Nexxen International in a research report on Thursday, April 10th. They set a “buy” rating and a $15.00 price objective on the stock. Scotiabank began coverage on Nexxen International in a report on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a report on Friday, May 30th. Finally, Royal Bank of Canada increased their price target on Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Nexxen International has an average rating of “Buy” and a consensus price target of $15.33.

Nexxen International Trading Down 0.6%

Shares of NASDAQ NEXN opened at $10.72 on Monday. 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 cap of $679.83 million, a price-to-earnings ratio of 268.00 and a beta of 1.82. The business’s 50 day moving average price is $10.10 and its 200-day moving average price is $13.79. 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 stock repurchase program on Wednesday, March 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.