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 earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.2778.

A number of equities research analysts recently weighed in on NEXN shares. Needham & Company LLC lowered their target price on shares of Nexxen International from $9.00 to $7.50 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Citizens Jmp cut 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. Rosenblatt Securities boosted their price objective on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently bought and sold shares of NEXN. Jump Financial LLC bought a new stake in shares of Nexxen International in the 4th quarter worth $95,000. Public Employees Retirement System of Ohio lifted its position in shares of Nexxen International by 328.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock valued at $485,000 after purchasing an additional 56,808 shares in the last quarter. Legato Capital Management LLC boosted its holdings in Nexxen International by 23.8% during 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 last quarter. Rock Point Advisors LLC grew its position in Nexxen International by 42.5% in the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after purchasing an additional 283,295 shares in the last quarter. Finally, Strs Ohio grew its position in Nexxen International by 35.7% in the 4th quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after purchasing an additional 21,900 shares in the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Stock Performance

Shares of NEXN stock opened at $7.41 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $6.25 and a two-hundred day simple moving average of $7.44. Nexxen International has a 12 month low of $5.60 and a 12 month high of $12.60. The firm has a market capitalization of $417.06 million, a PE ratio of 18.07 and a beta of 1.69.

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

Nexxen International announced that its board has approved a share repurchase plan on Thursday, November 20th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management 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.