Nexxen International Ltd. (NASDAQ:NEXN) Receives $17.00 Consensus Price Target from Brokerages

Nexxen International Ltd. (NASDAQ:NEXN) has received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.00.

NEXN has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Nexxen International in a report on Thursday, March 6th. Canaccord Genuity Group began coverage on Nexxen International in a research report on Wednesday. They set a “buy” rating and a $12.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd.

Nexxen International Price Performance

NEXN stock opened at $7.62 on Wednesday. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The firm has a 50-day moving average of $12.54 and a two-hundred day moving average of $15.95. The firm has a market capitalization of $483.24 million, a PE ratio of 190.50 and a beta of 1.91. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04.

Nexxen International announced that its board has initiated a share repurchase plan on Wednesday, March 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NEXN. Advisors Preferred LLC acquired a new stake in shares of Nexxen International during the 4th quarter valued at about $69,000. GAMMA Investing LLC raised 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 valued at $84,000 after acquiring an additional 8,027 shares in the last quarter. Virtu Financial LLC acquired a new stake in Nexxen International in the fourth quarter valued at approximately $110,000. D.A. Davidson & CO. bought a new stake in Nexxen International in the fourth quarter worth approximately $121,000. Finally, Jane Street Group LLC acquired a new position in shares of Nexxen International during the 4th quarter worth $121,000. 54.24% of the stock is owned by institutional investors and hedge funds.

About Nexxen International

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.