Nexxen International (NASDAQ:NEXN) Upgraded to “Buy” at Craig Hallum

Craig Hallum upgraded shares of Nexxen International (NASDAQ:NEXN) from a hold rating to a buy rating in a report released on Thursday, MarketBeat Ratings reports. Craig Hallum currently has $12.00 price target on the stock.

Several other equities analysts have also weighed in on the stock. BTIG Research upped their price objective on shares of Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Royal Bank Of Canada upped their price target on Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Raymond James Financial increased their price target on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Needham & Company LLC raised their price objective on Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 target price on shares of Nexxen International in a research report on Wednesday, June 17th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.61.

Nexxen International Trading Up 6.7%

NEXN opened at $9.62 on Thursday. Nexxen International has a twelve month low of $5.60 and a twelve month high of $11.59. The company has a fifty day moving average of $8.43 and a 200-day moving average of $7.22. The stock has a market cap of $541.41 million, a PE ratio of 32.07 and a beta of 1.62. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. The firm 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%. On average, sell-side analysts predict that Nexxen International will post 0.75 EPS for the current year.

Insider Buying and Selling

In other Nexxen International news, CFO Sagi Niri sold 68,886 shares of Nexxen International stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88. Following the completion of the transaction, the chief financial officer owned 381,856 shares of the company’s stock, valued at $3,467,252.48. The trade was a 15.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 237,235 shares of company stock valued at $2,129,742.

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System purchased a new stake in shares of Nexxen International in the second quarter worth $25,000. Quantbot Technologies LP purchased a new position in Nexxen International during the third quarter worth about $43,000. Jump Financial LLC purchased a new position in Nexxen International during the fourth quarter worth about $95,000. New York State Common Retirement Fund bought a new position in Nexxen International in the 2nd quarter worth about $124,000. Finally, GAMMA Investing LLC raised its holdings in shares of Nexxen International by 69.5% in the 2nd quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after acquiring an additional 6,764 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. 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.