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

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $12.60.

NEXN has been the subject of several recent research reports. 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 report on Friday, November 14th. Royal Bank Of Canada cut their target price 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. Canaccord Genuity Group lowered their price target on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Finally, BTIG Research reduced their target price 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.

Hedge Funds Weigh In On Nexxen International

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

Nexxen International Stock Up 2.1%

NEXN stock opened at $6.67 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. The firm has a 50-day moving average of $7.19 and a two-hundred day moving average of $8.86. Nexxen International has a 12 month low of $6.08 and a 12 month high of $12.60. The company has a market cap of $378.24 million, a price-to-earnings ratio of 11.11 and a beta of 1.71.

Nexxen International declared that its board has approved a share repurchase plan on Thursday, November 20th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board 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.