Nexxen International (NASDAQ:NEXN) Price Target Raised to $14.00 at Royal Bank of Canada

Nexxen International (NASDAQ:NEXN) had its price target raised by Royal Bank of Canada from $13.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.64% from the company’s previous close.

NEXN has been the topic of a number of other reports. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th. Canaccord Genuity Group lifted their target price on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. Craig Hallum started coverage on shares of Nexxen International in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price target on the stock. Scotiabank began coverage on shares of Nexxen International in a report on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.40.

Nexxen International Price Performance

Shares of NEXN opened at $12.32 on Monday. The company has a market capitalization of $781.30 million, a P/E ratio of 308.00 and a beta of 1.78. The business’s 50-day moving average is $8.83 and its two-hundred day moving average is $14.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88.

Nexxen International announced that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Nexxen International

A number of large investors have recently modified their holdings of the company. Rock Point Advisors LLC grew its stake in shares of Nexxen International by 32.7% during the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company’s stock worth $5,373,000 after purchasing an additional 158,397 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock valued at $5,687,000 after acquiring an additional 262,961 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after acquiring an additional 276,600 shares in the last quarter. Marshall Wace LLP lifted its stake in Nexxen International by 471.0% during the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after purchasing an additional 315,864 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Nexxen International in the fourth quarter valued at approximately $1,456,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.