Rock Point Advisors LLC Grows Position in Nexxen International Ltd. Sponsored ADR $NEXN

Rock Point Advisors LLC raised its position in Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) by 42.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950,517 shares of the company’s stock after buying an additional 283,295 shares during the quarter. Nexxen International makes up approximately 1.6% of Rock Point Advisors LLC’s portfolio, making the stock its 26th biggest position. Rock Point Advisors LLC owned approximately 1.67% of Nexxen International worth $6,216,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEXN. Geode Capital Management LLC grew its position in shares of Nexxen International by 1,062.0% during the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after acquiring an additional 465,936 shares during the last quarter. ARK Investment Management LLC purchased a new stake in Nexxen International in the 3rd quarter valued at $1,798,000. BNP Paribas Financial Markets raised its position in Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after purchasing an additional 95,219 shares during the last quarter. Navellier & Associates Inc. boosted 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 purchasing an additional 4,200 shares during the period. Finally, Strs Ohio boosted its stake in Nexxen International by 35.7% during the 4th quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after purchasing an additional 21,900 shares during the period. 54.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEXN has been the topic of a number of recent research reports. Scotiabank dropped their price objective on shares of Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research note on Thursday, January 22nd. Canaccord Genuity Group lowered their price target on Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. BTIG Research dropped their price target on Nexxen International from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Finally, Needham & Company LLC reduced their price objective on Nexxen International from $9.00 to $7.50 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.69.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $7.43 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $418.16 million, a price-to-earnings ratio of 18.12 and a beta of 1.61. The firm’s fifty day moving average price is $7.07 and its 200 day moving average price is $6.77. Nexxen International Ltd. Sponsored ADR has a 1-year low of $5.60 and a 1-year high of $12.60.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Sunday, March 22nd. The company reported $0.09 EPS for the quarter. The company had revenue of $71.01 million during the quarter. Nexxen International had a net margin of 6.87% and a return on equity of 9.47%. On average, sell-side analysts expect that Nexxen International Ltd. Sponsored ADR 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.