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

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.50.

A number of brokerages have recently commented on NEXN. Citizens Jmp reduced their target price on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a report on Friday, November 14th. Royal Bank Of Canada dropped their price target on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. BTIG Research reduced their price objective on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Canaccord Genuity Group decreased their price objective on Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th.

Nexxen International Stock Performance

Shares of Nexxen International stock opened at $6.61 on Friday. The stock has a market capitalization of $375.12 million, a price-to-earnings ratio of 11.02 and a beta of 1.71. The firm’s fifty day simple moving average is $7.07 and its 200-day simple moving average is $8.79. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. Nexxen International has a 12 month low of $6.08 and a 12 month high of $12.60.

Nexxen International announced that its board has approved a stock buyback program on Thursday, November 20th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NEXN. California State Teachers Retirement System acquired a new position in Nexxen International during the 2nd quarter worth approximately $25,000. Navellier & Associates Inc. grew its holdings in Nexxen International by 4.0% during the third quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after acquiring an additional 4,200 shares during the period. Quantbot Technologies LP purchased a new position in Nexxen International in the third quarter worth $43,000. Legato Capital Management LLC lifted its holdings in Nexxen International by 54.4% in the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock valued at $187,000 after acquiring an additional 7,124 shares during the period. Finally, Strs Ohio boosted its position in shares of Nexxen International by 14.1% during the 3rd quarter. Strs Ohio now owns 61,400 shares of the company’s stock worth $568,000 after purchasing an additional 7,600 shares in the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

About Nexxen International

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.