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

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $11.2778.

NEXN has been the subject of a number of recent research reports. Needham & Company LLC reduced their target price on shares of Nexxen International from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Rosenblatt Securities raised their price target on shares of Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research note on Thursday, January 22nd. Scotiabank cut their price objective on shares of Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a report on Thursday, March 5th. Finally, Canaccord Genuity Group decreased their target price on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th.

Institutional Investors Weigh In On Nexxen International

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System bought a new position in Nexxen International in the 2nd quarter valued at about $25,000. Quantbot Technologies LP bought a new position in Nexxen International in the third quarter valued at approximately $43,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Nexxen International during the second quarter valued at approximately $90,000. Jump Financial LLC bought a new stake in Nexxen International during the fourth quarter worth $95,000. Finally, SG Americas Securities LLC bought a new stake in Nexxen International during the third quarter worth $102,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $7.43 on Wednesday. The stock has a market cap of $418.16 million, a P/E ratio of 18.12 and a beta of 1.69. The stock has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $7.38. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. Nexxen International has a 1-year low of $5.60 and a 1-year high of $12.60.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The business had revenue of $100.71 million during the quarter, compared to the consensus estimate of $100.39 million. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%. Research analysts anticipate that Nexxen International will post 0.25 earnings per share for the current year.

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

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.