Rosenblatt Securities Reiterates “Buy” Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report released on Monday,Benzinga reports. They presently have a $15.00 target price on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 126.93% from the company’s previous close.

Several other research analysts have also recently issued reports on NEXN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. 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. Needham & Company LLC lowered their price target on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Canaccord Genuity Group dropped 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 note on Friday, November 14th. Finally, BTIG Research reduced their price objective on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Nexxen International Stock Up 0.8%

Nexxen International stock opened at $6.61 on Monday. The firm has a market capitalization of $375.12 million, a P/E ratio of 11.02 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 has a twelve month low of $6.08 and a twelve month high of $12.60. The stock’s fifty day simple moving average is $7.07 and its 200-day simple moving average is $8.79.

Nexxen International declared that its Board of Directors has authorized a stock repurchase 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 usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

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

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.