Arrowstreet Capital Limited Partnership Acquires New Holdings in Nexxen International Ltd. (NASDAQ:NEXN)

Arrowstreet Capital Limited Partnership bought a new position in Nexxen International Ltd. (NASDAQ:NEXN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 145,339 shares of the company’s stock, valued at approximately $1,456,000. Arrowstreet Capital Limited Partnership owned 0.22% of Nexxen International as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEXN. Advisors Preferred LLC acquired a new stake in Nexxen International during the 4th quarter worth approximately $69,000. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 8,027 shares during the period. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the fourth quarter worth $110,000. D.A. Davidson & CO. bought a new stake in Nexxen International in the 4th quarter valued at $121,000. Finally, Sei Investments Co. acquired a new position in Nexxen International in the 4th quarter worth $127,000. 54.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NEXN shares. Scotiabank began coverage on Nexxen International in a report on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. Canaccord Genuity Group initiated coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Craig Hallum began coverage on shares of Nexxen International in a research report on Thursday. They issued a “buy” rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Nexxen International currently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Nexxen International Stock Performance

NASDAQ NEXN opened at $8.65 on Friday. The firm has a market capitalization of $548.56 million, a P/E ratio of 216.25 and a beta of 1.81. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $9.85 and its two-hundred day moving average price is $15.35. Nexxen International Ltd. has a 1 year low of $6.93 and a 1 year high of $21.88.

Nexxen International announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.