Analysts Set Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) PT at $12.60

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research 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.

A number of analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th. BTIG Research decreased their price target on shares of Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Citizens Jmp cut 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 cut Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a report on Thursday, November 13th. Finally, Royal Bank Of Canada cut their target price on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NEXN. Quantbot Technologies LP acquired a new stake in shares of Nexxen International during the first quarter valued at approximately $153,000. Jump Financial LLC acquired a new position in Nexxen International in the 1st quarter worth approximately $146,000. Geode Capital Management LLC grew its position 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 purchasing an additional 465,936 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexxen International during the 2nd quarter valued at $90,000. Finally, Rhumbline Advisers lifted its holdings in shares of Nexxen International by 1,244.5% in the second quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock valued at $624,000 after purchasing an additional 55,469 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Price Performance

Shares of Nexxen International stock opened at $6.70 on Friday. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60. 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 stock has a market cap of $380.23 million, a PE ratio of 11.17 and a beta of 1.71. The company’s 50-day moving average price is $7.15 and its two-hundred day moving average price is $8.84.

Nexxen International declared that its Board of Directors has authorized a share buyback program on Thursday, November 20th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.