GAMMA Investing LLC Sells 5,048 Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN)

GAMMA Investing LLC cut its holdings in Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) by 59.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,376 shares of the company’s stock after selling 5,048 shares during the quarter. GAMMA Investing LLC’s holdings in Nexxen International were worth $28,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NEXN. Virtu Financial LLC bought a new position in Nexxen International during the fourth quarter worth about $110,000. Jane Street Group LLC bought a new position in Nexxen International during the 4th quarter worth approximately $121,000. Sei Investments Co. bought a new position in Nexxen International during the 4th quarter worth approximately $127,000. EntryPoint Capital LLC bought a new position in Nexxen International during the 4th quarter worth approximately $149,000. Finally, Bank of America Corp DE boosted its stake in Nexxen International by 1,898.3% during the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock worth $151,000 after acquiring an additional 14,351 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Down 4.3%

Shares of NASDAQ NEXN opened at $9.74 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.46 and a current ratio of 1.46. Nexxen International Ltd. Sponsored ADR has a 52 week low of $6.93 and a 52 week high of $21.88. The stock has a market capitalization of $617.71 million, a P/E ratio of 19.10 and a beta of 1.75. The stock’s fifty day moving average is $10.71 and its 200 day moving average is $12.11.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NEXN shares. Canaccord Genuity Group lifted their target price on Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and set a $15.00 price objective on shares of Nexxen International in a report on Friday, May 23rd. Scotiabank initiated coverage on shares of Nexxen International in a report on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target for the company. 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, Raymond James Financial raised 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 report on Monday, May 5th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.33.

Nexxen International Company Profile

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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.