JMP Securities Reiterates Market Outperform Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "market outperform" rating restated by investment analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $15.00 price objective on the stock. JMP Securities' price target suggests a potential upside of 36.99% from the company's current price.

Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Nexxen International in a research report on Friday. Wall Street Zen lowered shares of Nexxen International from a "strong-buy" rating to a "buy" rating in a report on Thursday. Craig Hallum started coverage on Nexxen International in a research report on Thursday, April 10th. They set a "buy" rating and a $15.00 target price on the stock. Canaccord Genuity Group increased their price objective on Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Rosenblatt Securities lifted their target price on shares of Nexxen International from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Nexxen International has a consensus rating of "Buy" and an average price target of $15.33.

Nexxen International Stock Performance

Shares of NEXN opened at $10.95 on Friday. The stock has a market capitalization of $694.42 million, a P/E ratio of 272.63 and a beta of 1.78. 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 firm's 50 day moving average is $9.31 and its 200-day moving average is $14.23. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88.

Nexxen International announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Nexxen International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC purchased a new stake in shares of Nexxen International in the fourth quarter valued at approximately $69,000. Virtu Financial LLC purchased a new position in shares of Nexxen International during the 4th quarter valued at approximately $110,000. D.A. Davidson & CO. purchased a new position in Nexxen International in the 4th quarter valued at about $121,000. Jane Street Group LLC acquired a new position in shares of Nexxen International during the 4th quarter valued at about $121,000. Finally, Sei Investments Co. acquired a new position in Nexxen International during the fourth quarter worth $127,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

About Nexxen International

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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