Brokerages Set Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) PT at $12.50

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

NEXN has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased 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. Needham & Company LLC decreased their target price on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. BTIG Research lowered their price target on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexxen International in a report on Thursday, January 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Nexxen International in a research report on Monday, December 29th.

Nexxen International Price Performance

Shares of NEXN opened at $6.10 on Friday. The firm has a market capitalization of $346.18 million, a price-to-earnings ratio of 10.17 and a beta of 1.71. The firm’s fifty day simple moving average is $6.29 and its 200-day simple moving average is $7.80. Nexxen International has a twelve month low of $5.60 and a twelve month 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.

Nexxen International announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 20th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in shares of Nexxen International in the 2nd quarter valued at about $25,000. Quantbot Technologies LP purchased a new stake in Nexxen International in the third quarter valued at approximately $43,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Nexxen International in the second quarter valued at approximately $90,000. SG Americas Securities LLC acquired a new stake in shares of Nexxen International in the third quarter valued at approximately $102,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Nexxen International during the second quarter worth approximately $124,000. Hedge funds and other 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.