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

Key Points

• Nexxen International Ltd. (NASDAQ:NEXN) has received a consensus rating of "Buy" from eight analysts, with an average 12-month price target of $15.00.
• The company recently launched a $20 million share buyback program, indicating that its leadership believes the stock is undervalued.
• Shares of Nexxen International have experienced a 1.6% decline in value and currently trade at $9.50, with a 52-week range of $6.93 to $12.60.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) has been given a consensus recommendation of "Buy" by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $15.00.

NEXN has been the topic of several research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $15.00 target price on shares of Nexxen International in a research report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a report on Friday, August 22nd. Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Nexxen International in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded shares of Nexxen International from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd.

Nexxen International Stock Down 1.6%

Shares of NEXN opened at $9.50 on Wednesday. Nexxen International has a 52 week low of $6.93 and a 52 week high of $12.60. The firm's 50-day simple moving average is $9.99 and its 200 day simple moving average is $9.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $602.49 million, a P/E ratio of 15.08 and a beta of 1.74.

Nexxen International declared that its Board of Directors has initiated a share buyback program on Friday, August 15th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEXN. GAMMA Investing LLC grew its position in Nexxen International by 234.6% during the first quarter. GAMMA Investing LLC now owns 28,190 shares of the company's stock worth $235,000 after buying an additional 19,766 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nexxen International by 45.7% during the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company's stock worth $989,000 after purchasing an additional 30,973 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Nexxen International by 1,898.3% during the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock worth $151,000 after purchasing an additional 14,351 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Nexxen International during the 4th quarter worth $121,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Nexxen International during the 4th quarter worth $593,000. Institutional investors and hedge funds own 54.24% of the company's stock.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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.

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