Nexxen International (NASDAQ:NEXN) Price Target Lowered to $9.00 at BTIG Research

Nexxen International (NASDAQ:NEXN) had its price objective decreased by stock analysts at BTIG Research from $10.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 32.16% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Needham & Company LLC lowered their price target on shares of Nexxen International from $9.00 to $7.50 and set a “buy” rating for the company in a report on Wednesday, March 4th. Canaccord Genuity Group dropped their target price on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Nexxen International in a report on Thursday, January 22nd. Rosenblatt Securities raised their price objective on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Scotiabank cut their target price 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. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.17.

Nexxen International Stock Down 1.4%

NEXN stock opened at $6.81 on Thursday. The firm has a 50-day moving average price of $6.37 and a 200-day moving average price of $7.34. Nexxen International has a 12 month low of $5.60 and a 12 month high of $12.60. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $383.27 million, a P/E ratio of 16.61 and a beta of 1.69.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $100.71 million during the quarter, compared to analysts’ expectations of $100.39 million. Nexxen International had a net margin of 6.87% and a return on equity of 9.47%. As a group, equities research analysts anticipate that Nexxen International will post 0.25 EPS for the current fiscal year.

Nexxen International declared that its Board of Directors has approved a stock buyback program on Thursday, November 20th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 9.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in shares of Nexxen International in the second quarter worth approximately $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International during the 3rd quarter valued at approximately $43,000. Police & Firemen s Retirement System of New Jersey bought a new position in Nexxen International during the 2nd quarter worth approximately $90,000. Jump Financial LLC acquired a new position in shares of Nexxen International in the 4th quarter worth approximately $95,000. Finally, SG Americas Securities LLC bought a new stake in shares of Nexxen International in the 3rd quarter valued at $102,000. 54.24% of the stock is currently owned by institutional investors.

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.