Bank of America Corp DE Purchases 14,351 Shares of Nexxen International Ltd. (NASDAQ:NEXN)

Bank of America Corp DE boosted its position in Nexxen International Ltd. (NASDAQ:NEXN) by 1,898.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,107 shares of the company’s stock after purchasing an additional 14,351 shares during the period. Bank of America Corp DE’s holdings in Nexxen International were worth $151,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $121,000. Sei Investments Co. bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $127,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Nexxen International during the 4th quarter valued at approximately $149,000. 54.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $16.00 price target on shares of Nexxen International in a research note on Friday, May 30th. Craig Hallum initiated coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Royal Bank of Canada increased their target price on shares of Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Canaccord Genuity Group increased 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 Monday, May 12th. Finally, Scotiabank initiated coverage on shares of Nexxen International in a research note on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 target price on the stock. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.33.

Nexxen International Price Performance

NEXN stock opened at $10.09 on Tuesday. 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 Ltd. has a 52 week low of $6.93 and a 52 week high of $21.88. The firm’s fifty day moving average is $10.38 and its 200 day moving average is $13.39. The firm has a market cap of $639.88 million, a P/E ratio of 252.25 and a beta of 1.82.

Nexxen International announced that its Board of Directors has initiated a share 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 often an indication that the company’s leadership believes its shares are undervalued.

About Nexxen International

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.