Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have earned an average recommendation of “Buy” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.8889.

Several brokerages have weighed in on NEXN. Royal Bank Of Canada upped their target price on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. Rosenblatt Securities reissued a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research note on Thursday, August 13th. Zacks Research upgraded Nexxen International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 24th. Finally, Needham & Company LLC raised their price objective on shares of Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th.

Insider Buying and Selling at Nexxen International

In other news, CFO Sagi Niri sold 68,886 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $9.08, for a total transaction of $625,484.88. Following the transaction, the chief financial officer owned 381,856 shares in the company, valued at $3,467,252.48. This represents a 15.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the transaction, the director owned 34,678 shares in the company, valued at $359,957.64. This represents a 24.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 201,374 shares of company stock worth $1,880,061.

Hedge Funds Weigh In On Nexxen International

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System acquired a new stake in Nexxen International in the 2nd quarter worth approximately $25,000. Pinnacle Holdings LLC acquired a new position in Nexxen International during the second quarter valued at approximately $42,000. Quantbot Technologies LP acquired a new position in Nexxen International during the third quarter valued at approximately $43,000. Jump Financial LLC acquired a new position in Nexxen International during the fourth quarter valued at approximately $95,000. Finally, New York State Common Retirement Fund bought a new position in shares of Nexxen International in the second quarter valued at approximately $124,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Price Performance

NASDAQ NEXN opened at $9.56 on Wednesday. The company has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $8.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $544.44 million, a price-to-earnings ratio of 43.46 and a beta of 1.60. Nexxen International has a 52-week low of $5.60 and a 52-week high of $11.30.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $100.52 million during the quarter, compared to analysts’ expectations of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. Equities research analysts predict that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Nexxen International Company Profile

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.