Millennium Management LLC Raises Position in Nexxen International Ltd. (NASDAQ:NEXN)

Millennium Management LLC lifted its holdings in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,742 shares of the company's stock after purchasing an additional 30,973 shares during the period. Millennium Management LLC owned 0.15% of Nexxen International worth $989,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Advisors Preferred LLC bought a new position in shares of Nexxen International during the 4th quarter worth approximately $69,000. Virtu Financial LLC bought a new stake in shares of Nexxen International in the 4th quarter valued at $110,000. D.A. Davidson & CO. acquired a new position in shares of Nexxen International during the 4th quarter valued at $121,000. Jane Street Group LLC bought a new position in Nexxen International during the fourth quarter worth $121,000. Finally, Sei Investments Co. acquired a new stake in Nexxen International in the fourth quarter worth $127,000. Institutional investors and hedge funds own 54.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Nexxen International in a report on Friday, May 23rd. Royal Bank of Canada boosted their target price on shares of Nexxen International from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Raymond James raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 target price on the stock in a research report on Monday, May 5th. Rosenblatt Securities reissued a "buy" rating and issued a $16.00 price target on shares of Nexxen International in a research report on Friday, May 30th. Finally, JMP Securities restated a "market outperform" rating and set a $15.00 price objective on shares of Nexxen International in a research note on Friday, May 23rd. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $15.33.

Nexxen International Stock Performance

Nexxen International stock traded down $0.07 during mid-day trading on Friday, reaching $10.72. 314,037 shares of the company's stock were exchanged, compared to its average volume of 176,033. The business's fifty day simple moving average is $10.10 and its 200 day simple moving average is $13.83. 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 Ltd. has a one year low of $6.93 and a one year high of $21.88. The firm has a market capitalization of $679.83 million, a PE ratio of 268.00 and a beta of 1.82.

Nexxen International declared that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Nexxen International 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.