Craig Hallum Upgrades Nexxen International (NASDAQ:NEXN) to "Buy"

Key Points

• Craig Hallum upgraded Nexxen International from “hold” to “buy” and set a $12 price target, implying about 33% upside from the prior close.
• Analyst sentiment around the stock is broadly positive: nine analysts rate it a Buy and one rates it Hold, giving Nexxen a consensus Moderate Buy rating with an average target of $11.61.
• The shares opened at $9.02 and the company recently reported quarterly EPS of $0.06 on revenue of $86.84 million; meanwhile, CFO Sagi Niri sold 49,826 shares in a pre-arranged trade.

Nexxen International (NASDAQ:NEXN - Get Free Report) was upgraded by Craig Hallum from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $12.00 price target on the stock. Craig Hallum's price target would suggest a potential upside of 33.04% from the stock's previous close.

NEXN has been the topic of a number of other reports. Rosenblatt Securities reiterated a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a research report on Wednesday, June 17th. BTIG Research lifted their target price on Nexxen International from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Raymond James Financial upped their price target on Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Needham & Company LLC increased their price target on Nexxen International from $8.50 to $10.50 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Finally, Wall Street Zen raised Nexxen International from a "hold" rating to a "buy" rating in a research report on Saturday, May 23rd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Nexxen International Stock Performance

Shares of Nexxen International stock opened at $9.02 on Thursday. Nexxen International has a one year low of $5.60 and a one year high of $11.59. The company has a market cap of $507.65 million, a price-to-earnings ratio of 30.07 and a beta of 1.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. The business's 50 day moving average price is $8.39 and its 200 day moving average price is $7.19.

Nexxen International (NASDAQ:NEXN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%.The business had revenue of $86.84 million for the quarter. On average, research analysts predict that Nexxen International will post 0.75 EPS for the current year.

Insider Activity

In other news, CFO Sagi Niri sold 49,826 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.54, for a total value of $475,340.04. Following the completion of the transaction, the chief financial officer owned 332,030 shares of the company's stock, valued at approximately $3,167,566.20. This trade represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 237,235 shares of company stock worth $2,129,742 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC increased its position in shares of Nexxen International by 42.5% in the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company's stock valued at $6,216,000 after purchasing an additional 283,295 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company's stock worth $5,307,000 after purchasing an additional 465,936 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company's stock worth $1,271,000 after purchasing an additional 95,219 shares during the last quarter. Strs Ohio grew its stake in shares of Nexxen International by 35.7% during the fourth quarter. Strs Ohio now owns 83,300 shares of the company's stock worth $545,000 after purchasing an additional 21,900 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Nexxen International by 328.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company's stock worth $485,000 after purchasing an additional 56,808 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company's stock.

Nexxen International Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.