Insider Selling: Nexxen International (NASDAQ:NEXN) CFO Sells 18,660 Shares of Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) CFO Sagi Niri sold 18,660 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $8.52, for a total value of $158,983.20. Following the transaction, the chief financial officer owned 514,136 shares in the company, valued at approximately $4,380,438.72. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sagi Niri also recently made the following trade(s):

• On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The shares were sold at an average price of $8.58, for a total value of $8,811.66.
• On Monday, June 1st, Sagi Niri sold 33,757 shares of Nexxen International stock. The shares were sold at an average price of $8.63, for a total value of $291,322.91.
• On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The shares were sold at an average price of $8.50, for a total value of $12,631.00.

Nexxen International Stock Up 4.5%

NASDAQ NEXN traded up $0.37 during trading on Thursday, hitting $8.60. 114,058 shares of the company traded hands, compared to its average volume of 334,458. Nexxen International Ltd. Sponsored ADR has a 12 month low of $5.60 and a 12 month high of $11.59. The business has a fifty day simple moving average of $7.45 and a 200 day simple moving average of $6.79. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $483.99 million, a P/E ratio of 28.58 and a beta of 1.64.

Nexxen International (NASDAQ:NEXN) last released its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. The firm had revenue of $86.84 million during the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. As a group, sell-side analysts predict that Nexxen International Ltd. Sponsored ADR will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEXN. California State Teachers Retirement System bought a new stake in Nexxen International during the 2nd quarter worth about $25,000. Navellier & Associates Inc. lifted its position in Nexxen International by 4.0% during the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after buying an additional 4,200 shares in the last quarter. Quantbot Technologies LP bought a new stake in Nexxen International during the 3rd quarter worth about $43,000. Legato Capital Management LLC lifted its position in Nexxen International by 23.8% during the 4th quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock worth $164,000 after buying an additional 4,815 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Nexxen International during the 2nd quarter worth about $124,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Nexxen International from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Canaccord Genuity Group cut their price objective on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Rosenblatt Securities upped their price objective on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, 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. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.69.

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.