Nexxen International Ltd. (NASDAQ:NEXN) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) by 176.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 433,700 shares of the company's stock after buying an additional 276,600 shares during the period. Renaissance Technologies LLC owned 0.67% of Nexxen International worth $4,346,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NEXN. Advisors Preferred LLC acquired a new position in Nexxen International in the fourth quarter valued at approximately $69,000. GAMMA Investing LLC lifted its stake in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock valued at $84,000 after purchasing an additional 8,027 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at $110,000. D.A. Davidson & CO. purchased a new position in shares of Nexxen International during the 4th quarter worth $121,000. Finally, Sei Investments Co. acquired a new stake in shares of Nexxen International during the 4th quarter worth about $127,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Stock Up 3.2 %

Shares of NASDAQ NEXN traded up $0.30 during mid-day trading on Friday, hitting $9.59. The company had a trading volume of 354,334 shares, compared to its average volume of 130,070. The company has a market capitalization of $608.17 million, a PE ratio of 239.75 and a beta of 1.81. The business's 50-day simple moving average is $8.30 and its 200 day simple moving average is $14.89. Nexxen International Ltd. has a 1-year low of $6.93 and a 1-year high of $21.88. 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 declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

NEXN has been the subject of several research analyst reports. Craig Hallum assumed coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Nexxen International in a research report on Monday, January 27th. Needham & Company LLC reiterated a "buy" rating and issued a $12.00 target price on shares of Nexxen International in a report on Thursday, March 6th. Royal Bank of Canada upped their price target on Nexxen International from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, 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 objective for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.75.

Nexxen International 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.