Nexxen International (NASDAQ:NEXN) Shares Gap Up After Analyst Upgrade

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) gapped up prior to trading on Thursday after Craig Hallum upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $9.02, but opened at $9.63. Craig Hallum now has a $12.00 price target on the stock. Nexxen International shares last traded at $9.4860, with a volume of 62,037 shares changing hands.

NEXN has been the topic of a number of other research reports. Raymond James Financial increased their price target on Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. BTIG Research lifted their price objective on Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded Nexxen International from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Scotiabank lifted their price target on Nexxen International from $10.00 to $11.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada upped their price target on shares of Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.61.

Insider Buying and Selling

In other Nexxen International news, CFO Sagi Niri sold 68,886 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 381,856 shares of the company’s stock, valued at $3,467,252.48. This trade represents a 15.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 237,235 shares of company stock worth $2,129,742.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently added to or reduced their stakes in NEXN. Geode Capital Management LLC grew its holdings in Nexxen International by 1,062.0% in the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after buying an additional 465,936 shares in the last quarter. Rock Point Advisors LLC lifted its stake in Nexxen International by 42.5% during the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after purchasing an additional 283,295 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after purchasing an additional 95,219 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Nexxen International by 328.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock valued at $485,000 after purchasing an additional 56,808 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Nexxen International by 1,244.5% in the 2nd quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock valued at $624,000 after buying an additional 55,469 shares during the period. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Performance

The firm has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $7.19. The company has a market capitalization of $531.00 million, a price-to-earnings ratio of 31.45 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. The business had revenue of $86.84 million during the quarter. As a group, sell-side analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.75 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.