Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives $10.69 Average PT from Brokerages

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.6875.

A number of equities research analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Nexxen International from $7.50 to $8.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Scotiabank lowered their price objective on shares of 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. Royal Bank Of Canada increased their price objective on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Finally, Canaccord Genuity Group lowered their price objective on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. Geode Capital Management LLC lifted its position in Nexxen International by 1,062.0% during the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after purchasing an additional 465,936 shares during the period. 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. ARK Investment Management LLC bought a new position in Nexxen International during the third quarter valued at approximately $1,798,000. BNP Paribas Financial Markets lifted its position in Nexxen International by 354.1% during the second quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after purchasing an additional 95,219 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Nexxen International by 328.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock valued at $485,000 after purchasing an additional 56,808 shares during the period. Institutional investors own 54.24% of the company’s stock.

Nexxen International Trading Down 0.7%

NASDAQ:NEXN opened at $8.40 on Monday. The company’s 50 day moving average price is $7.34 and its 200-day moving average price is $6.78. Nexxen International has a 52 week low of $5.60 and a 52 week high of $12.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock has a market cap of $472.75 million, a price-to-earnings ratio of 28.00 and a beta of 1.61.

Nexxen International (NASDAQ:NEXN) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. The firm had revenue of $86.84 million for the quarter. On average, equities research analysts forecast that Nexxen International will post 0.75 earnings per share for the current fiscal year.

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.