Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have received an average recommendation of “Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.00.

A number of research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Nexxen International in a report on Friday, May 23rd. Raymond James Financial raised Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Monday, May 5th. Canaccord Genuity Group raised 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. Royal Bank Of Canada raised their target price on Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of Nexxen International in a research note on Friday, May 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of Tennessee Department of Treasury lifted its holdings in shares of Nexxen International by 470.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after acquiring an additional 27,110 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Nexxen International by 173.4% in the 2nd quarter. Lazard Asset Management LLC now owns 23,164 shares of the company’s stock valued at $241,000 after acquiring an additional 14,692 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after acquiring an additional 95,219 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Nexxen International in the 2nd quarter valued at about $25,000. Finally, JB Capital Partners LP lifted its holdings in shares of Nexxen International by 1.8% in the 2nd quarter. JB Capital Partners LP now owns 3,555,097 shares of the company’s stock valued at $37,009,000 after acquiring an additional 62,540 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Up 6.2%

NEXN opened at $10.17 on Friday. The company has a market cap of $644.98 million, a P/E ratio of 16.14 and a beta of 1.74. The business’s 50-day moving average price is $10.09 and its 200-day moving average price is $9.68. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. Nexxen International has a 12 month low of $6.93 and a 12 month high of $12.60.

Nexxen International declared that its board has approved a stock repurchase plan on Friday, August 15th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

About Nexxen International

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.