Nexxen International (NASDAQ:NEXN) Shares Down 3.9% – Here’s What Happened

Shares of Nexxen International Ltd. (NASDAQ:NEXN) traded down 3.9% on Friday . The stock traded as low as $9.58 and last traded at $9.64. 42,228 shares changed hands during trading, a decline of 68% from the average session volume of 130,617 shares. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Nexxen International from $9.50 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada increased their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Nexxen International Price Performance

The stock has a market capitalization of $618.59 million, a P/E ratio of 236.90 and a beta of 1.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $8.27.

Institutional Investors Weigh In On Nexxen International

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after buying an additional 8,027 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Nexxen International by 24.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after acquiring an additional 11,346 shares during the period. Tidal Investments LLC boosted its position in Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Nexxen International in the third quarter valued at $123,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Nexxen International during the 3rd quarter worth about $2,449,000. 54.24% of the stock is owned by institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.