Nexxen International (NASDAQ:NEXN) Trading 0.7% Higher – What’s Next?

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN)’s share price shot up 0.7% on Tuesday . The stock traded as high as $6.26 and last traded at $6.11. 365,320 shares were traded during mid-day trading, an increase of 7% from the average session volume of 340,994 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

Several research firms recently commented on NEXN. Craig Hallum cut shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Thursday, November 13th. BTIG Research dropped their price target on Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Nexxen International in a research report on Monday, December 29th. Royal Bank Of Canada decreased their price objective on Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 14th. Finally, Canaccord Genuity Group cut their target price on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Nexxen International Trading Up 0.7%

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $6.33 and a 200-day moving average price of $7.92. The company has a market cap of $346.74 million, a P/E ratio of 10.18 and a beta of 1.71.

Nexxen International declared that its Board of Directors has authorized a share repurchase program on Thursday, November 20th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. California State Teachers Retirement System acquired a new stake in shares of Nexxen International in the second quarter valued at approximately $25,000. Navellier & Associates Inc. raised its holdings in Nexxen International by 4.0% in the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock valued at $1,019,000 after acquiring an additional 4,200 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Nexxen International during the 3rd quarter valued at $43,000. Legato Capital Management LLC increased its position in shares of Nexxen International by 23.8% in the fourth quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock worth $164,000 after purchasing an additional 4,815 shares during the period. Finally, Strs Ohio raised its stake in Nexxen International by 14.1% in the third quarter. Strs Ohio now owns 61,400 shares of the company’s stock valued at $568,000 after purchasing an additional 7,600 shares in the last quarter. 54.24% of the stock is owned by institutional investors.

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. 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.