JB Capital Partners LP increased its stake in shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Free Report) by 2,490.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,492,557 shares of the company's stock after acquiring an additional 3,357,707 shares during the period. Nexxen International comprises about 6.1% of JB Capital Partners LP's portfolio, making the stock its 7th largest position. JB Capital Partners LP owned about 5.51% of Nexxen International worth $29,163,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in NEXN. Navellier & Associates Inc. increased its stake in Nexxen International by 1.2% in the 1st quarter. Navellier & Associates Inc. now owns 99,374 shares of the company's stock valued at $830,000 after buying an additional 1,182 shares during the last quarter. Jane Street Group LLC acquired a new stake in Nexxen International in the 4th quarter valued at $121,000. Bank of America Corp DE increased its stake in Nexxen International by 1,898.3% in the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock valued at $151,000 after buying an additional 14,351 shares during the last quarter. Jump Financial LLC acquired a new stake in Nexxen International in the 1st quarter valued at $146,000. Finally, Quantbot Technologies LP acquired a new stake in Nexxen International in the 1st quarter valued at $153,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on NEXN shares. Canaccord Genuity Group lifted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Nexxen International in a research note on Friday, May 23rd. Wall Street Zen downgraded shares of Nexxen International from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Royal Bank Of Canada lifted their price objective on shares of Nexxen International from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Raymond James Financial raised shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research report on Monday, May 5th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Nexxen International has an average rating of "Buy" and a consensus target price of $15.00.
Read Our Latest Research Report on NEXN
Nexxen International Stock Performance
Shares of NEXN stock remained flat at $9.86 during midday trading on Wednesday. 446,843 shares of the company traded hands, compared to its average volume of 388,725. The stock has a market cap of $625.32 million, a price-to-earnings ratio of 10.72 and a beta of 1.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $10.10 and a 200 day moving average price of $9.68. Nexxen International Ltd. Sponsored ADR has a 1-year low of $6.93 and a 1-year high of $12.60.
Nexxen International announced that its Board of Directors has approved a stock repurchase program on Friday, August 15th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.
Nexxen International Company Profile
(
Free Report)
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.
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