Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Given Average Recommendation of “Moderate Buy” by Analysts

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.60.

A number of analysts have weighed in on the stock. Craig Hallum cut shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Thursday, November 13th. BTIG Research dropped their price objective on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Citizens Jmp decreased their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their price target on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 14th.

Nexxen International Stock Performance

NEXN stock opened at $6.48 on Monday. The stock’s 50 day simple moving average is $8.05 and its 200 day simple moving average is $9.45. Nexxen International has a 12-month low of $6.08 and a 12-month high of $12.60. The firm has a market cap of $367.46 million, a P/E ratio of 10.79 and a beta of 1.71. 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 announced that its Board of Directors has authorized a stock buyback program on Friday, August 15th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Nexxen International

Several institutional investors have recently modified their holdings of NEXN. California State Teachers Retirement System bought a new position in shares of Nexxen International in the second quarter worth $25,000. Navellier & Associates Inc. raised its stake in shares of Nexxen International by 4.0% during the third quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock valued at $1,019,000 after purchasing an additional 4,200 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Nexxen International in the third quarter worth about $43,000. Legato Capital Management LLC lifted its holdings in Nexxen International by 54.4% in the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock worth $187,000 after purchasing an additional 7,124 shares during the period. Finally, Strs Ohio grew its position in Nexxen International by 14.1% in the 3rd quarter. Strs Ohio now owns 61,400 shares of the company’s stock valued at $568,000 after buying an additional 7,600 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

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.