Nexxen International’s (NEXN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Nexxen International (NASDAQ:NEXN) in a research note published on Monday,Benzinga reports. Rosenblatt Securities currently has a $15.00 price objective on the stock.

NEXN has been the topic of several other reports. Royal Bank Of Canada decreased their price target on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Needham & Company LLC cut their target price on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Craig Hallum cut shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research note on Thursday, November 13th. Canaccord Genuity Group lowered their price target on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 14th. Finally, Citizens Jmp dropped their price target on Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research note on Friday, November 14th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Nexxen International Price Performance

Nexxen International stock opened at $6.56 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60. The stock has a market capitalization of $372.27 million, a P/E ratio of 10.93 and a beta of 1.71. The stock has a fifty day moving average of $7.11 and a 200-day moving average of $8.81.

Nexxen International declared that its Board of Directors has approved a stock buyback program on Thursday, November 20th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. FourThought Financial Partners LLC acquired a new stake in shares of Nexxen International during the third quarter worth $168,000. ARK Investment Management LLC bought a new stake in Nexxen International during the third quarter valued at $1,798,000. Rock Point Advisors LLC grew its holdings in Nexxen International by 14.9% during the 3rd quarter. Rock Point Advisors LLC now owns 667,222 shares of the company’s stock worth $6,172,000 after acquiring an additional 86,415 shares during the period. Legato Capital Management LLC raised its position in shares of Nexxen International by 54.4% in the 3rd quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock worth $187,000 after acquiring an additional 7,124 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Nexxen International in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.