Nexxen International (NASDAQ:NEXN) Price Target Raised to $16.00

Nexxen International (NASDAQ:NEXN) had its price target lifted by Rosenblatt Securities from $15.00 to $16.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their target price on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Needham & Company LLC decreased their price objective on shares of Nexxen International from $9.00 to $7.50 and set a “buy” rating on the stock in a research note on Wednesday. BTIG Research dropped their price objective on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada cut their target price on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Finally, Citizens Jmp reduced their target price on Nexxen International from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and a consensus price target of $11.28.

Nexxen International Stock Performance

Shares of NASDAQ NEXN opened at $7.46 on Thursday. The stock has a market capitalization of $419.88 million, a price-to-earnings ratio of 18.20 and a beta of 1.69. The stock’s fifty day simple moving average is $6.22 and its 200 day simple moving average is $7.48. Nexxen International has a 52-week low of $5.60 and a 52-week high of $12.60. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.04.

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

Nexxen International declared that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after buying an additional 465,936 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexxen International during the second quarter worth $90,000. Rhumbline Advisers raised its position in shares of Nexxen International by 1,244.5% during the second quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock worth $624,000 after acquiring an additional 55,469 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Nexxen International during the second quarter valued at $124,000. Finally, JB Capital Partners LP boosted its holdings in Nexxen International by 1.8% in the second 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 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.