Nexxen International (NASDAQ:NEXN) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Nexxen International to “Strong Buy” from “Hold,” while the broader analyst consensus remains “Buy” with an average price target of $12.89.
• Nexxen reported quarterly EPS of $0.23, beating estimates of $0.20, and revenue of $100.52 million versus expectations of $93.09 million. The stock opened at $10.17 and has traded between $5.60 and $11.30 over the past year.
• Company insiders have sold 269,468 shares worth approximately $2.46 million over the past 90 days, while institutional investors own 54.24% of Nexxen’s outstanding stock.

Nexxen International (NASDAQ:NEXN - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on NEXN. Weiss Ratings cut shares of Nexxen International from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Raymond James Financial boosted their target price on shares of Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Wall Street Zen raised Nexxen International from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Canaccord Genuity Group boosted their price target on Nexxen International from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $12.89.

Nexxen International Trading Up 1.7%

NASDAQ:NEXN opened at $10.17 on Monday. The stock has a market cap of $579.19 million, a price-to-earnings ratio of 46.23 and a beta of 1.59. 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 company's 50 day moving average price is $9.83 and its 200-day moving average price is $8.15. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30.

Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $100.52 million for the quarter, compared to analysts' expectations of $93.09 million. On average, equities research analysts forecast that Nexxen International will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nexxen International news, Director Daniel Yosef Kerstein sold 11,000 shares of Nexxen International stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the transaction, the director owned 34,678 shares of the company's stock, valued at $359,957.64. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sagi Niri sold 17,578 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 269,468 shares of company stock worth $2,464,230.

Institutional Trading of Nexxen International

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEXN. California State Teachers Retirement System bought a new position in Nexxen International in the 2nd quarter worth approximately $25,000. Pinnacle Holdings LLC purchased a new position in Nexxen International during the second quarter valued at $42,000. Quantbot Technologies LP bought a new stake in Nexxen International in the 3rd quarter valued at $43,000. Jump Financial LLC bought a new stake in Nexxen International in the 4th quarter valued at $95,000. Finally, New York State Common Retirement Fund purchased a new stake in Nexxen International in the 2nd quarter worth $124,000. Institutional investors own 54.24% of the company's stock.

About Nexxen International

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.

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