Nexxen International Ltd. (NASDAQ:NEXN) Receives $15.40 Average Price Target from Brokerages

Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.00.

Several brokerages recently issued reports on NEXN. Raymond James upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 target price for the company in a research report on Monday, May 5th. Scotiabank began coverage on shares of Nexxen International in a research report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 target price for the company. Craig Hallum began coverage on shares of Nexxen International in a research report on Thursday, April 10th. They set a "buy" rating and a $15.00 target price for the company. Rosenblatt Securities boosted 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. Finally, Needham & Company LLC boosted their target price on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently modified their holdings of the company. Navellier & Associates Inc. boosted its position 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 purchasing 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 approximately $69,000. Virtu Financial LLC bought a new position in shares of Nexxen International in the fourth quarter worth approximately $110,000. JPMorgan Chase & Co. boosted its position 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 purchasing 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 approximately $121,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Stock Performance

Shares of NEXN traded down $0.39 during mid-day trading on Thursday, hitting $11.21. 489,176 shares of the company traded hands, compared to its average volume of 155,979. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a 50-day moving average price of $9.01 and a two-hundred day moving average price of $14.37. Nexxen International has a 1 year low of $6.93 and a 1 year high of $21.88. The stock has a market cap of $710.90 million, a price-to-earnings ratio of 280.25 and a beta of 1.78.

Nexxen International declared that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is 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.