Nexxen International (NASDAQ:NEXN) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of Nexxen International (NASDAQ:NEXN) in a report released on Tuesday, Marketbeat reports. The firm issued a buy rating and a $15.00 price target on the stock.

Several other equities analysts have also recently issued reports on NEXN. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a report on Thursday, March 6th. Canaccord Genuity Group initiated coverage on Nexxen International in a report on Wednesday, March 26th. They set a “buy” rating and a $12.00 price objective on the stock. Craig Hallum began coverage on Nexxen International in a report on Thursday, April 10th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.56.

Nexxen International Price Performance

Shares of NASDAQ NEXN opened at $10.07 on Tuesday. 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 stock has a market cap of $638.61 million, a P/E ratio of 251.75 and a beta of 1.81. The stock has a 50 day moving average of $8.36 and a two-hundred day moving average of $14.73. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88.

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

Institutional Trading of Nexxen International

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. Sei Investments Co. purchased a new position in shares of Nexxen International in the 4th quarter worth $127,000. JPMorgan Chase & Co. grew its holdings in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after purchasing an additional 11,346 shares during the period. D.A. Davidson & CO. purchased a new stake in Nexxen International during the fourth quarter worth approximately $121,000. Finally, Tidal Investments LLC raised its stake in shares of Nexxen International by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after acquiring an additional 2,125 shares during the period. 54.24% of the stock is owned by institutional investors and hedge funds.

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.