Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives $11.17 Consensus Price Target from Brokerages

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.1667.

A number of research firms have commented on NEXN. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research report on Thursday, January 22nd. BTIG Research decreased their target price on Nexxen International from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Scotiabank decreased their target price on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 5th. 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, Canaccord Genuity Group decreased their target price on Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th.

Hedge Funds Weigh In On Nexxen International

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in shares of Nexxen International in the second quarter worth $25,000. Quantbot Technologies LP acquired a new position in shares of Nexxen International in the third quarter worth $43,000. SG Americas Securities LLC acquired a new position in shares of Nexxen International in the third quarter worth $102,000. New York State Common Retirement Fund acquired a new position in shares of Nexxen International in the second quarter worth $124,000. Finally, Jump Financial LLC acquired a new position in shares of Nexxen International in the fourth quarter worth $95,000. 54.24% of the stock is owned by institutional investors and hedge funds.

Nexxen International Stock Down 3.1%

NEXN opened at $6.62 on Friday. The business’s fifty day moving average is $6.49 and its two-hundred day moving average is $7.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $372.57 million, a price-to-earnings ratio of 16.15 and a beta of 1.63. Nexxen International has a one year low of $5.60 and a one year high of $12.60.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Sunday, March 22nd. The company reported $0.09 EPS for the quarter. The company had revenue of $71.01 million for the quarter. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%. Analysts anticipate that Nexxen International will post 0.25 EPS for the current fiscal year.

Nexxen International declared that its board has authorized a share buyback program on Friday, January 2nd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.