Canaccord Genuity Group Cuts Nexxen International (NASDAQ:NEXN) Price Target to $11.00

Nexxen International (NASDAQ:NEXN) had its price objective decreased by Canaccord Genuity Group from $12.00 to $11.00 in a research report sent to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on NEXN. Scotiabank decreased their target price on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Thursday. Royal Bank Of Canada dropped their target price on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Citizens Jmp reduced their price target on Nexxen International from $15.00 to $12.00 and set a “market outperform” rating on the stock in a research report on Friday, November 14th. Rosenblatt Securities upped their price target on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Craig Hallum downgraded shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Thursday, November 13th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Nexxen International has a consensus rating of “Moderate Buy” and a consensus target price of $11.28.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $7.46 on Thursday. The firm’s fifty day simple moving average is $6.22 and its 200 day simple moving average is $7.48. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International has a twelve month low of $5.60 and a twelve month high of $12.60. The firm has a market capitalization of $419.88 million, a price-to-earnings ratio of 18.20 and a beta of 1.69.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%.The firm had revenue of $100.71 million during the quarter, compared to the consensus estimate of $100.39 million. As a group, equities research analysts expect that Nexxen International will post 0.25 earnings per share for the current fiscal year.

Nexxen International announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 20th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to purchase up to 9.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System purchased a new position in Nexxen International in the second quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International during the 3rd quarter valued at approximately $43,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexxen International during the 2nd quarter worth approximately $90,000. Jump Financial LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at approximately $95,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nexxen International in the 3rd quarter valued at approximately $102,000. 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.