Independent Advisor Alliance Invests $190,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Independent Advisor Alliance acquired a new stake in shares of Nexxen International Ltd. (NASDAQ:NEXN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 19,007 shares of the company’s stock, valued at approximately $190,000.

A number of other institutional investors also recently bought and sold shares of NEXN. Navellier & Associates Inc. bought a new stake in shares of Nexxen International during the 4th quarter valued at about $984,000. Rice Hall James & Associates LLC grew its position in Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock valued at $5,687,000 after buying an additional 262,961 shares during the period. D.A. Davidson & CO. purchased a new stake in Nexxen International during the fourth quarter valued at approximately $121,000. Advisors Preferred LLC purchased a new position in shares of Nexxen International during the 4th quarter worth $69,000. Finally, GAMMA Investing LLC boosted its stake in shares of Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after acquiring an additional 8,027 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

Wall Street Analyst Weigh In

NEXN has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Nexxen International in a report on Thursday, March 6th. Royal Bank of Canada lifted their price objective on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Nexxen International Stock Performance

NASDAQ NEXN opened at $7.19 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International Ltd. has a twelve month low of $6.93 and a twelve month high of $21.88. The business has a 50-day moving average price of $14.00 and a 200-day moving average price of $16.26. The firm has a market cap of $455.97 million, a price-to-earnings ratio of 179.75 and a beta of 1.91.

Nexxen International announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Nexxen International Company Profile

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.