Brokerages Set Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Price Target at $12.50

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have received an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $12.50.

Several analysts have issued reports on NEXN shares. Royal Bank Of Canada lowered their price objective on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 target price on shares of Nexxen International in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th. Needham & Company LLC cut their price objective on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Finally, Canaccord Genuity Group decreased their price objective on shares of Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 14th.

Nexxen International Price Performance

NEXN stock opened at $6.53 on Tuesday. The firm has a market cap of $370.58 million, a P/E ratio of 10.88 and a beta of 1.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. Nexxen International has a 1 year low of $5.72 and a 1 year high of $12.60. The stock has a 50-day simple moving average of $6.42 and a 200-day simple moving average of $8.31.

Nexxen International declared that its Board of Directors has approved a share repurchase plan on Thursday, November 20th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to reacquire up to 9.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new position in shares of Nexxen International during the 2nd quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International in the third quarter valued at $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexxen International in the second quarter valued at $90,000. SG Americas Securities LLC bought a new position in Nexxen International during the 3rd quarter valued at $102,000. Finally, New York State Common Retirement Fund acquired a new position in Nexxen International during the 2nd quarter worth $124,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.