Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.6875.

NEXN has been the subject of a number of recent research reports. Canaccord Genuity Group lowered their price objective on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Wall Street Zen upgraded Nexxen International from a “hold” rating to a “buy” rating in a research note on Saturday. Scotiabank lowered their price objective on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 5th. BTIG Research lowered their price objective on Nexxen International from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Finally, Rosenblatt Securities upped their price objective on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Rock Point Advisors LLC grew its stake in Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after buying an additional 283,295 shares during the last quarter. Geode Capital Management LLC grew its stake in Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after buying an additional 465,936 shares during the last quarter. ARK Investment Management LLC bought a new position in Nexxen International during the 3rd quarter worth $1,798,000. BNP Paribas Financial Markets grew its stake in Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after buying an additional 95,219 shares during the last quarter. Finally, Navellier & Associates Inc. grew its stake in Nexxen International by 4.0% during the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after buying an additional 4,200 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Performance

NEXN stock opened at $8.28 on Monday. 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 market cap of $466.00 million, a P/E ratio of 27.60 and a beta of 1.61. Nexxen International has a 12-month low of $5.60 and a 12-month high of $12.00. The stock’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $6.75.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $86.84 million for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. As a group, equities research analysts predict that Nexxen International will post 0.75 EPS for the current year.

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.