Nexxen International (NASDAQ:NEXN) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $9.00 and traded as high as $9.10. Nexxen International shares last traded at $9.07, with a volume of 852,480 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Nexxen International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Canaccord Genuity Group boosted their target price on Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Royal Bank Of Canada boosted their target price on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Needham & Company LLC upped their target price on Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $16.00 price target on shares of Nexxen International in a research report on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.89.

Nexxen International Trading Up 2.6%

The stock has a market capitalization of $516.55 million, a PE ratio of 41.23 and a beta of 1.65. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $9.00 and a 200-day moving average price of $8.30.

Nexxen International (NASDAQ:NEXN) last released its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $100.52 million for the quarter, compared to analysts’ expectations of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. As a group, equities analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.73 EPS for the current fiscal year.

Insider Transactions at Nexxen International

In related news, Director Daniel Kerstein sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the sale, the director owned 34,678 shares in the company, valued at approximately $359,957.64. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Nexxen International during the 2nd quarter valued at approximately $826,000. Ritholtz Wealth Management purchased a new stake in shares of Nexxen International during the 3rd quarter worth approximately $406,000. CenterBook Partners LP purchased a new stake in shares of Nexxen International during the 3rd quarter worth approximately $298,000. SteelPeak Wealth LLC bought a new stake in shares of Nexxen International in the 3rd quarter worth approximately $188,000. Finally, Brandywine Trust Co. bought a new stake in shares of Nexxen International in the 2nd quarter worth approximately $143,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.