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

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.50.

NEXN has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price target on Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th. BTIG Research cut their price objective 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. Royal Bank Of Canada reduced their target price on Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, November 14th. Craig Hallum downgraded Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Thursday, November 13th. Finally, Needham & Company LLC dropped their price target 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.

Institutional Investors Weigh In On Nexxen International

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Nexxen International in the second quarter valued at about $25,000. Quantbot Technologies LP bought a new stake in Nexxen International during the 3rd quarter valued at approximately $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexxen International in the 2nd quarter valued at approximately $90,000. SG Americas Securities LLC bought a new position in Nexxen International in the 3rd quarter worth approximately $102,000. Finally, New York State Common Retirement Fund bought a new position in Nexxen International in the 2nd quarter worth approximately $124,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Up 0.7%

Nexxen International stock opened at $6.10 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International has a 1-year low of $5.60 and a 1-year high of $12.60. The firm’s fifty day simple moving average is $6.30 and its 200-day simple moving average is $7.86. The company has a market capitalization of $346.18 million, a P/E ratio of 10.17 and a beta of 1.71.

Nexxen International declared that its Board of Directors has approved a stock repurchase program on Thursday, November 20th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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. 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.