Nexxen International Ltd. (NASDAQ:NEXN) Receives $17.00 Consensus Price Target from Analysts

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.00.

A number of research firms have issued reports on NEXN. Canaccord Genuity Group initiated coverage on Nexxen International in a research report on Wednesday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Royal Bank of Canada lifted their price objective on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th.

Institutional Investors Weigh In On Nexxen International

Several hedge funds and other institutional investors have recently modified their holdings of NEXN. Rice Hall James & Associates LLC grew its stake 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 acquiring an additional 262,961 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Nexxen International by 176.1% in the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock valued at $4,346,000 after purchasing an additional 276,600 shares during the period. Marshall Wace LLP boosted its holdings in Nexxen International by 471.0% in the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock valued at $3,837,000 after purchasing an additional 315,864 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Nexxen International during the 4th quarter valued at $1,456,000. Finally, Millennium Management LLC increased its holdings in shares of Nexxen International by 45.7% in the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after purchasing an additional 30,973 shares during the period. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Performance

Shares of Nexxen International stock opened at $7.62 on Wednesday. The firm has a market capitalization of $483.24 million, a P/E ratio of 190.50 and a beta of 1.91. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $12.54 and its 200 day simple moving average is $15.96. Nexxen International has a 12 month low of $6.93 and a 12 month high of $21.88.

Nexxen International declared that its board has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are 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.