Two Sigma Investments LP Invests $593,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Two Sigma Investments LP bought a new position in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 59,173 shares of the company's stock, valued at approximately $593,000. Two Sigma Investments LP owned 0.09% of Nexxen International as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Rice Hall James & Associates LLC grew its position in Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock valued at $5,687,000 after buying an additional 262,961 shares during the period. Renaissance Technologies LLC raised its stake in shares of Nexxen International by 176.1% in the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock valued at $4,346,000 after buying an additional 276,600 shares during the period. Marshall Wace LLP lifted its position in shares of Nexxen International by 471.0% during the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company's stock valued at $3,837,000 after buying an additional 315,864 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Nexxen International during the 4th quarter valued at $1,456,000. Finally, Millennium Management LLC grew its stake in shares of Nexxen International by 45.7% during the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company's stock worth $989,000 after acquiring an additional 30,973 shares during the period. 54.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NEXN has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price objective on shares of Nexxen International in a report on Friday, May 23rd. 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. JMP Securities restated a "market outperform" rating and set a $15.00 price target on shares of Nexxen International in a research note on Friday, May 23rd. 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 note on Monday, May 12th. Finally, Wall Street Zen cut shares of Nexxen International from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $15.33.

Nexxen International Price Performance

NASDAQ NEXN traded down $0.15 on Thursday, hitting $10.37. The stock had a trading volume of 213,383 shares, compared to its average volume of 178,655. The firm has a 50-day moving average of $10.23 and a 200-day moving average of $13.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International Ltd. has a 52-week low of $6.93 and a 52-week high of $21.88. The company has a market capitalization of $657.63 million, a price-to-earnings ratio of 259.25 and a beta of 1.82.

Nexxen International announced that its board has initiated a stock buyback plan on Wednesday, March 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are usually 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.