Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Stock Has Consensus Target Price of $12.89

Key Points

• Analysts remain broadly positive: Nexxen International has a consensus “Moderate Buy” rating from 11 firms, with nine buys and two holds. The average 12-month price target is $12.89 versus the stock’s reported price of $8.70.
• Quarterly results exceeded expectations: Nexxen reported EPS of $0.23, above the $0.20 consensus estimate, while revenue reached $100.52 million compared with expectations of $93.09 million.
• Insiders sold shares while institutions added exposure: Company insiders sold 157,327 shares worth approximately $1.49 million during the last quarter, while institutional investors own 54.24% of the stock and several funds recently initiated or increased positions.

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eleven research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.89.

NEXN has been the topic of several research reports. Zacks Research downgraded Nexxen International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. Canaccord Genuity Group lifted their price target on Nexxen International from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Rosenblatt Securities reiterated a "buy" rating and set a $16.00 price target on shares of Nexxen International in a research note on Thursday, August 13th. Wall Street Zen raised Nexxen International from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Finally, Scotiabank raised their price objective on Nexxen International from $11.00 to $13.00 and gave the stock a "sector outperform" rating in a research note on Thursday, August 13th.

Nexxen International Stock Down 2.0%

NASDAQ:NEXN opened at $8.70 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. Nexxen International has a twelve month low of $5.60 and a twelve month high of $11.30. The company has a market cap of $495.46 million, a PE ratio of 39.55 and a beta of 1.60. The company's 50 day moving average is $9.87 and its two-hundred day moving average is $8.63.

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

Insider Activity at Nexxen International

In other Nexxen International news, CFO Sagi Niri sold 68,886 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $9.08, for a total transaction of $625,484.88. Following the completion of the transaction, the chief financial officer directly owned 381,856 shares of the company's stock, valued at approximately $3,467,252.48. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $10.38, for a total transaction of $114,180.00. Following the transaction, the director directly owned 34,678 shares of the company's stock, 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. In the last quarter, insiders sold 157,327 shares of company stock worth $1,493,662.

Institutional Investors Weigh In On Nexxen International

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Nexxen International during the 2nd quarter valued at about $826,000. Brandywine Trust Co. acquired a new position in shares of Nexxen International in the 2nd quarter valued at about $143,000. Pinnacle Holdings LLC purchased a new stake in shares of Nexxen International in the second quarter worth about $42,000. Finally, GAMMA Investing LLC boosted its stake 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 buying an additional 6,764 shares during the last quarter. 54.24% of the stock is 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, advertising agencies, publishers and media owners. Its platform supports the planning, buying, delivery and measurement of digital advertising campaigns across connected television, streaming video, online video, display, mobile and other digital media channels.

The company offers data-driven audience targeting, programmatic media buying, campaign optimization, creative and interactive advertising formats, and measurement and attribution services.

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