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

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $12.50.

A number of research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Nexxen International in a research report on Monday, December 29th. Canaccord Genuity Group cut their price target on Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 14th. Citizens Jmp reduced their price objective on Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Craig Hallum lowered Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a report on Thursday, November 13th. Finally, BTIG Research cut their target price on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, November 13th.

Nexxen International Price Performance

NASDAQ:NEXN opened at $6.10 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. Nexxen International has a one year low of $5.60 and a one year high of $12.60. The company has a fifty day moving average price of $6.30 and a 200 day moving average price of $7.86. The stock has a market cap of $346.18 million, a P/E ratio of 10.17 and a beta of 1.71.

Nexxen International announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 20th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Nexxen International

Several institutional investors have recently made changes to their positions in NEXN. Harbor Capital Advisors Inc. bought a new stake in Nexxen International in the third quarter valued at about $1,239,000. Police & Firemen s Retirement System of New Jersey bought a new position in Nexxen International during the second quarter worth about $90,000. Rock Point Advisors LLC boosted its holdings in Nexxen International by 14.9% during the third quarter. Rock Point Advisors LLC now owns 667,222 shares of the company’s stock valued at $6,172,000 after purchasing an additional 86,415 shares in the last quarter. Legato Capital Management LLC boosted its holdings in Nexxen International by 54.4% during the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock valued at $187,000 after purchasing an additional 7,124 shares in the last quarter. Finally, ARK Investment Management LLC bought a new stake in shares of Nexxen International in the 3rd quarter valued at approximately $1,798,000. 54.24% of the stock is currently 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.