Nexxen International (NASDAQ:NEXN) Given New $10.00 Price Target at BTIG Research

Nexxen International (NASDAQ:NEXN) had its price target cut by BTIG Research from $13.00 to $10.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on NEXN. Needham & Company LLC dropped their target price on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Friday, August 22nd. Craig Hallum downgraded shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Nexxen International presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

Nexxen International Price Performance

Shares of NASDAQ NEXN traded up $0.11 during midday trading on Thursday, hitting $6.43. The stock had a trading volume of 762,790 shares, compared to its average volume of 422,952. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04. Nexxen International has a 1 year low of $6.08 and a 1 year high of $12.60. The company has a market capitalization of $407.77 million, a PE ratio of 10.21 and a beta of 1.70. The stock has a 50 day simple moving average of $8.76 and a 200-day simple moving average of $9.83.

Nexxen International declared that its Board of Directors has approved a stock repurchase program on Friday, August 15th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Nexxen International

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new position in Nexxen International during the second quarter worth $25,000. Quantbot Technologies LP acquired a new stake in shares of Nexxen International in the third quarter valued at $43,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Nexxen International in the 2nd quarter valued at $90,000. SG Americas Securities LLC acquired a new position in Nexxen International during the 3rd quarter worth about $102,000. Finally, New York State Common Retirement Fund acquired a new position in Nexxen International during the 2nd quarter worth about $124,000. Institutional investors and hedge funds 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.