Nexxen International Ltd. (NASDAQ:NEXN) Receives Average Rating of “Buy” from Analysts

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have been given a consensus rating of “Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.33.

A number of equities analysts recently issued reports on NEXN shares. Canaccord Genuity Group raised their price target on Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Royal Bank of Canada raised their price target on Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Wall Street Zen lowered Nexxen International from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Nexxen International in a report on Friday, May 23rd. Finally, Scotiabank started coverage on Nexxen International in a report on Monday, March 31st. They set a “sector outperform” rating and a $17.00 price target on the stock.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new position in shares of Nexxen International during the 4th quarter worth $69,000. D.A. Davidson & CO. acquired a new stake in shares of Nexxen International during the fourth quarter valued at about $121,000. Rice Hall James & Associates LLC lifted its position in shares of Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after purchasing an additional 262,961 shares during the last quarter. Navellier & Associates Inc. bought a new position in shares of Nexxen International during the fourth quarter worth about $984,000. Finally, Independent Advisor Alliance bought a new position in shares of Nexxen International during the fourth quarter worth about $190,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

Nexxen International Stock Performance

NASDAQ NEXN opened at $10.72 on Monday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 52-week low of $6.93 and a 52-week high of $21.88. The business’s 50-day moving average price is $10.10 and its 200 day moving average price is $13.79. The firm has a market cap of $679.83 million, a P/E ratio of 268.00 and a beta of 1.82.

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

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.