Nexxen International Ltd. (NASDAQ:NEXN) Receives Consensus Rating of "Buy" from Analysts

Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) have been assigned an average recommendation of "Buy" from the nine brokerages that are covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued a report on the stock in the last year is $15.33.

A number of research analysts have weighed in on NEXN shares. Wall Street Zen downgraded Nexxen International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Rosenblatt Securities restated a "buy" rating and issued a $16.00 price target on shares of Nexxen International in a research note on Friday, May 30th. Canaccord Genuity Group raised their price target on Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Scotiabank started coverage on Nexxen International in a research note on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price target for the company. 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 research note on Monday, May 5th.

Nexxen International Stock Up 0.2%

Shares of NASDAQ:NEXN traded up $0.02 during mid-day trading on Monday, reaching $10.52. 250,025 shares of the stock were exchanged, compared to its average volume of 178,516. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a market cap of $667.15 million, a P/E ratio of 263.00 and a beta of 1.82. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The stock's 50 day simple moving average is $10.18 and its 200-day simple moving average is $13.70.

Nexxen International announced that its board has initiated a share buyback plan on Wednesday, March 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Nexxen International

Several hedge funds have recently added to or reduced their stakes in the company. JB Capital Partners LP lifted its holdings in Nexxen International by 2,490.0% during the 1st quarter. JB Capital Partners LP now owns 3,492,557 shares of the company's stock worth $29,163,000 after purchasing an additional 3,357,707 shares during the last quarter. Jump Financial LLC acquired a new position in Nexxen International in the 1st quarter valued at $146,000. Quantbot Technologies LP acquired a new position in Nexxen International in the 1st quarter valued at $153,000. Navellier & Associates Inc. raised its holdings 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 acquiring an additional 1,182 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in Nexxen International in the 1st quarter valued at $174,000. 54.24% of the stock is owned by institutional investors and hedge funds.

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.