Nexxen International Ltd. (NASDAQ:NEXN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $15.00.

Several equities research analysts recently commented on the company. Scotiabank began coverage on Nexxen International in a research note on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target for the company. Craig Hallum assumed coverage on Nexxen International in a research report on Thursday, April 10th. They set a “buy” rating and a $15.00 price objective for the company. Raymond James raised shares of Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Monday, May 5th. Canaccord Genuity Group boosted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Needham & Company LLC upped their target price on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 15th.

Nexxen International Stock Down 0.2%

Shares of NASDAQ:NEXN opened at $11.19 on Thursday. The company has a market cap of $709.64 million, a PE ratio of 279.75 and a beta of 1.78. The firm has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $14.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International has a 52 week low of $6.93 and a 52 week high of $21.88.

Nexxen International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

A number of hedge funds have recently added to or reduced their stakes in NEXN. Advisors Preferred LLC bought a new position in shares of Nexxen International during the 4th quarter worth about $69,000. Virtu Financial LLC purchased a new position in Nexxen International during the 4th quarter worth $110,000. D.A. Davidson & CO. bought a new stake in Nexxen International in the 4th quarter worth about $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International in the fourth quarter valued at approximately $121,000. Finally, Sei Investments Co. purchased a new stake in shares of Nexxen International during the 4th quarter valued at $127,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.