Nexxen International (NASDAQ:NEXN) Given Buy Rating at BTIG Research

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $13.00 price target on the stock. BTIG Research's target price points to a potential upside of 47.41% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Royal Bank Of Canada increased their target price on shares of Nexxen International from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Zacks Research lowered shares of Nexxen International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. Wall Street Zen raised shares of Nexxen International from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Needham & Company LLC increased their price objective on shares of Nexxen International from $10.50 to $13.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Scotiabank raised 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 note on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.89.

Nexxen International Stock Performance

NEXN opened at $8.82 on Wednesday. The firm's fifty day simple moving average is $9.29 and its two-hundred day simple moving average is $8.94. Nexxen International has a 52-week low of $5.60 and a 52-week high of $11.30. The company has a market cap of $502.24 million, a price-to-earnings ratio of 40.28 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05.

Nexxen International (NASDAQ:NEXN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. The company had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. Equities analysts anticipate that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Sagi Niri sold 17,578 shares of Nexxen International stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total transaction of $184,744.78. Following the sale, the chief financial officer owned 126,488 shares of the company's stock, valued at approximately $1,329,388.88. The trade was a 12.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the completion of the transaction, the director owned 34,678 shares in the company, valued at $359,957.64. This represents a 24.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEXN. Pinnacle Holdings LLC purchased a new stake in Nexxen International in the second quarter valued at $42,000. State of Alaska Department of Revenue grew its holdings in shares of Nexxen International by 20.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company's stock worth $108,000 after purchasing an additional 2,048 shares during the period. Brandywine Trust Co. acquired a new stake in shares of Nexxen International during the 2nd quarter worth about $143,000. GAMMA Investing LLC increased its position in shares of Nexxen International by 69.5% during the 2nd quarter. GAMMA Investing LLC now owns 16,496 shares of the company's stock worth $149,000 after purchasing an additional 6,764 shares during the last quarter. Finally, SteelPeak Wealth LLC purchased a new stake in Nexxen International in the 3rd quarter valued at about $188,000. 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.