Nexxen International Ltd. (NASDAQ:NEXN) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) have earned an average recommendation of "Buy" from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.33.

A number of analysts have recently commented on NEXN shares. JMP Securities reissued a "market outperform" rating and set a $15.00 target price on shares of Nexxen International in a research note on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Nexxen International in a research report on Friday, May 23rd. Royal Bank of Canada increased their price objective on Nexxen International from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Rosenblatt Securities restated a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a report on Friday, May 30th. Finally, Wall Street Zen cut shares of Nexxen International from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd.

Nexxen International Price Performance

NASDAQ NEXN traded down $0.15 during trading hours on Monday, reaching $10.37. The company's stock had a trading volume of 213,383 shares, compared to its average volume of 178,655. The firm has a market capitalization of $657.63 million, a price-to-earnings ratio of 259.25 and a beta of 1.82. The company's 50-day moving average is $10.23 and its two-hundred day moving average is $13.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. Nexxen International has a 1-year low of $6.93 and a 1-year high of $21.88.

Nexxen International declared that its Board of Directors has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

Several large investors have recently modified their holdings of NEXN. JB Capital Partners LP lifted its position in shares of Nexxen International by 2,490.0% during the first 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 in the last quarter. Marshall Wace LLP raised its stake in Nexxen International by 471.0% in the fourth 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Nexxen International by 176.1% during 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 increased 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 worth $5,687,000 after buying an additional 262,961 shares during the period. Finally, Rock Point Advisors LLC raised its holdings in shares of Nexxen International by 32.7% in the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company's stock valued at $5,373,000 after buying an additional 158,397 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company's stock.

Nexxen International Company 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.