Nexxen International (NASDAQ:NEXN) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Nexxen International (NASDAQ:NEXN) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on NEXN. Scotiabank lifted their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 13th. Raymond James Financial raised their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. BTIG Research lifted their price objective on shares of Nexxen International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Craig Hallum upgraded shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen raised shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Nexxen International has an average rating of “Buy” and a consensus price target of $12.89.

Nexxen International Stock Performance

Shares of Nexxen International stock opened at $10.17 on Monday. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $9.83 and a 200-day moving average price of $8.15. The company has a market cap of $579.19 million, a PE ratio of 46.23 and a beta of 1.59.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $100.52 million during the quarter, compared to the consensus estimate of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. Equities analysts anticipate that Nexxen International will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Nexxen International

In related news, Director Daniel Yosef Kerstein sold 11,000 shares of Nexxen International stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the completion of the sale, the director owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sagi Niri sold 68,886 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $9.08, for a total value of $625,484.88. Following the completion of the sale, the chief financial officer owned 381,856 shares in the company, valued at $3,467,252.48. This represents a 15.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 269,468 shares of company stock valued at $2,464,230 in the last quarter.

Institutional Trading of Nexxen International

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in Nexxen International in the 2nd quarter worth approximately $34,000. Public Employees Retirement System of Ohio bought a new stake in Nexxen International during the 2nd quarter valued at $826,000. Brandywine Trust Co. purchased a new stake in shares of Nexxen International during the second quarter worth $143,000. Pinnacle Holdings LLC purchased a new stake in shares of Nexxen International during the second quarter worth $42,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock worth $149,000 after acquiring an additional 6,764 shares during the period. 54.24% of the stock is currently owned by hedge funds and other 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.