Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Nexxen International (NASDAQ:NEXN - Free Report) had its target price boosted by Canaccord Genuity Group from $12.00 to $14.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on NEXN. Rosenblatt Securities initiated coverage on Nexxen International in a report on Tuesday, April 29th. They issued a "buy" rating and a $15.00 price objective for the company. Raymond James raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a report on Monday, May 5th. JMP Securities reissued a "market outperform" rating and issued a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Scotiabank initiated coverage on Nexxen International in a report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price objective for the company. Finally, Craig Hallum initiated coverage on Nexxen International in a report on Thursday, April 10th. They issued a "buy" rating and a $15.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Nexxen International currently has an average rating of "Moderate Buy" and an average price target of $15.00.

Nexxen International Stock Down 3.4%

Shares of NASDAQ NEXN traded down $0.39 during trading hours on Monday, hitting $11.21. The company had a trading volume of 489,176 shares, compared to its average volume of 155,418. The stock has a market capitalization of $710.90 million, a P/E ratio of 280.25 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 1-year low of $6.93 and a 1-year high of $21.88. The firm's 50 day moving average is $9.01 and its 200-day moving average is $14.37.

Nexxen International announced that its board has authorized a share repurchase plan on Wednesday, March 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Nexxen International

A number of large investors have recently added to or reduced their stakes in the business. JB Capital Partners LP raised its stake in Nexxen International by 2,490.0% in the 1st quarter. JB Capital Partners LP now owns 3,492,557 shares of the company's stock valued at $29,163,000 after acquiring an additional 3,357,707 shares during the period. Rock Point Advisors LLC increased its position in Nexxen International by 32.7% during the 1st quarter. Rock Point Advisors LLC now owns 643,492 shares of the company's stock worth $5,373,000 after buying an additional 158,397 shares during the period. Rice Hall James & Associates LLC increased its position in Nexxen International by 86.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock worth $5,687,000 after buying an additional 262,961 shares during the period. Renaissance Technologies LLC increased its position in Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after buying an additional 276,600 shares during the period. Finally, Marshall Wace LLP increased its position in Nexxen International by 471.0% during the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company's stock worth $3,837,000 after buying an additional 315,864 shares during the period. Institutional investors own 54.24% of the company's stock.

Nexxen International Company Profile

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.