Rosenblatt Securities Reiterates Buy Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $16.00 target price on the stock. Rosenblatt Securities’ target price suggests a potential upside of 82.86% from the stock’s current price.

A number of other brokerages have also issued reports on NEXN. Wall Street Zen raised Nexxen International from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Needham & Company LLC lifted their target price on shares of Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada lifted their target price on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Canaccord Genuity Group cut their target price on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, BTIG Research lifted their target price on shares of Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and a consensus price target of $11.06.

Nexxen International Stock Up 0.7%

Shares of Nexxen International stock opened at $8.75 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. Nexxen International has a 52-week low of $5.60 and a 52-week high of $11.59. The stock has a market capitalization of $492.45 million, a price-to-earnings ratio of 29.17 and a beta of 1.64. The company’s 50 day moving average price is $7.82 and its 200-day moving average price is $6.93.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $86.84 million for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. Equities research analysts forecast that Nexxen International will post 0.73 EPS for the current year.

Insider Activity

In other news, CFO Sagi Niri sold 33,757 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.63, for a total transaction of $291,322.91. Following the completion of the transaction, the chief financial officer directly owned 533,823 shares of the company’s stock, valued at $4,606,892.49. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Insiders have sold a total of 74,216 shares of company stock valued at $637,668 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rock Point Advisors LLC lifted its position 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 period. Geode Capital Management LLC raised its position in Nexxen International by 1,062.0% in the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock worth $5,307,000 after acquiring an additional 465,936 shares during the period. ARK Investment Management LLC bought a new position in Nexxen International in the third quarter worth approximately $1,798,000. BNP Paribas Financial Markets raised its position in Nexxen International by 354.1% in the second quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after acquiring an additional 95,219 shares during the period. Finally, Strs Ohio raised its position in Nexxen International by 35.7% in the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after acquiring an additional 21,900 shares during the period. Institutional investors own 54.24% of the company’s stock.

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.