Brokerages Set Nexxen International Ltd. (NASDAQ:NEXN) PT at $15.40

Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.00.

Several research analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Nexxen International from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. 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. Rosenblatt Securities boosted their price target on Nexxen International from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Canaccord Genuity Group boosted their price target on Nexxen International from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Scotiabank assumed 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.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc. raised its stake in shares of Nexxen International by 1.2% in the first quarter. Navellier & Associates Inc. now owns 99,374 shares of the company's stock worth $830,000 after buying an additional 1,182 shares during the period. Advisors Preferred LLC bought a new position in shares of Nexxen International in the fourth quarter worth about $69,000. Virtu Financial LLC bought a new position in shares of Nexxen International in the fourth quarter worth about $110,000. JPMorgan Chase & Co. raised its stake in shares of Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company's stock worth $466,000 after buying an additional 11,346 shares during the period. Finally, D.A. Davidson & CO. bought a new position in shares of Nexxen International in the fourth quarter worth about $121,000. Institutional investors own 54.24% of the company's stock.

Nexxen International Stock Up 2.7%

Nexxen International stock traded up $0.30 during trading hours on Thursday, hitting $11.49. The stock had a trading volume of 465,259 shares, compared to its average volume of 158,816. 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 stock has a market capitalization of $728.66 million, a P/E ratio of 287.25 and a beta of 1.78. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88. The stock's 50-day moving average price is $9.16 and its 200-day moving average price is $14.29.

Nexxen International declared that its board has approved a stock repurchase program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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.