Brokerages Set Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) PT at $11.28

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.2778.

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a report on Thursday, January 22nd. Rosenblatt Securities upped their price objective on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada reduced their price objective on Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Needham & Company LLC decreased their target price on Nexxen International from $9.00 to $7.50 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Citizens Jmp lowered their target price on Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research note on Friday, November 14th.

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $7.43 on Wednesday. The firm has a 50 day moving average of $6.31 and a 200-day moving average of $7.42. Nexxen International has a 12 month low of $5.60 and a 12 month high of $12.60. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $418.19 million, a PE ratio of 18.12 and a beta of 1.69.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.06. Nexxen International had a net margin of 6.87% and a return on equity of 9.47%. The business had revenue of $100.71 million for the quarter, compared to analyst estimates of $100.39 million. On average, equities research analysts predict that Nexxen International will post 0.25 EPS for the current fiscal year.

Nexxen International announced that its board has authorized a share repurchase program on Thursday, November 20th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System bought a new stake in Nexxen International during the 2nd quarter worth $25,000. Quantbot Technologies LP acquired a new stake in shares of Nexxen International during the third quarter valued at about $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Nexxen International during the second quarter valued at about $90,000. Jump Financial LLC bought a new stake in shares of Nexxen International during the fourth quarter worth about $95,000. Finally, SG Americas Securities LLC acquired a new position in shares of Nexxen International in the third quarter valued at approximately $102,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.