Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at JMP Securities in a research report issued on Friday,Benzinga reports. They presently have a $15.00 price objective on the stock. JMP Securities' price objective points to a potential upside of 26.63% from the stock's current price.
Several other equities analysts have also recently weighed in on NEXN. Canaccord Genuity Group lifted their target price on Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Royal Bank of Canada increased their price target on Nexxen International from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Needham & Company LLC restated a "buy" rating and issued a $14.00 price objective on shares of Nexxen International in a research note on Friday, May 23rd. Rosenblatt Securities raised their target price on shares of Nexxen International from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, Raymond James upgraded Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price target for the company in a report on Monday, May 5th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.33.
Check Out Our Latest Report on Nexxen International
Nexxen International Price Performance
Shares of NEXN traded up $0.29 during midday trading on Friday, reaching $11.85. The stock had a trading volume of 308,277 shares, compared to its average volume of 165,955. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $751.24 million, a P/E ratio of 296.00 and a beta of 1.78. The firm's 50 day moving average price is $9.53 and its 200-day moving average price is $14.11. Nexxen International has a 52 week low of $6.93 and a 52 week high of $21.88.
Nexxen International declared that its Board of Directors has initiated a share buyback program on Wednesday, March 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.
Hedge Funds Weigh In On Nexxen International
Several institutional investors have recently added to or reduced their stakes in NEXN. JB Capital Partners LP lifted its holdings in shares of Nexxen International by 2,490.0% in the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company's stock valued at $29,163,000 after purchasing an additional 3,357,707 shares in the last quarter. Marshall Wace LLP raised its stake 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 worth $3,837,000 after purchasing an additional 315,864 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Nexxen International by 176.1% in the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after buying an additional 276,600 shares during the last quarter. 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. Finally, Rock Point Advisors LLC increased its holdings in Nexxen International by 32.7% during the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company's stock worth $5,373,000 after buying an additional 158,397 shares during the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.
About Nexxen International
(
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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.
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