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

Key Points

• Analyst consensus: Ten analysts rate Nexxen a consensus "Moderate Buy" (8 buys, 2 holds) with an average 12‑month target of $11.17.
• $40 million share repurchase plan authorized, allowing the company to buy back up to 10.8% of its shares, a move that typically signals the board views the stock as undervalued.
• Shares opened at $7.38 with a market cap of about $415M and a P/E of 18; last quarter EPS was $0.09 on $71.01M revenue, and institutional investors hold roughly 54.24% of the stock.

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $11.1667.

NEXN has been the subject of a number of research analyst reports. Rosenblatt Securities upped their target price on Nexxen International from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Needham & Company LLC cut their target price on Nexxen International from $9.00 to $7.50 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Scotiabank cut their target price on Nexxen International from $12.00 to $10.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 5th. Weiss Ratings restated a "hold (c)" rating on shares of Nexxen International in a research report on Thursday, January 22nd. Finally, BTIG Research cut their target price on Nexxen International from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Thursday, March 19th.

Institutional Investors Weigh In On Nexxen International

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new stake in shares of Nexxen International during the 2nd quarter valued at $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International during the 3rd quarter valued at $43,000. SG Americas Securities LLC acquired a new stake in Nexxen International during the 3rd quarter valued at $102,000. New York State Common Retirement Fund acquired a new stake in Nexxen International during the 2nd quarter valued at $124,000. Finally, Jump Financial LLC acquired a new stake in Nexxen International during the 4th quarter valued at $95,000. Institutional investors and hedge funds own 54.24% of the company's stock.

Nexxen International Stock Performance

Shares of NASDAQ NEXN opened at $7.38 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $6.84. The company has a market cap of $415.35 million, a PE ratio of 18.00 and a beta of 1.63. Nexxen International has a 12-month low of $5.60 and a 12-month high of $12.60.

Nexxen International (NASDAQ:NEXN - Get Free Report) last issued its quarterly earnings data on Sunday, March 22nd. The company reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $71.01 million during the quarter. Nexxen International had a return on equity of 9.47% and a net margin of 6.87%. On average, equities research analysts forecast that Nexxen International will post 0.75 EPS for the current year.

Nexxen International announced that its Board of Directors has approved a share repurchase plan on Friday, January 2nd that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Nexxen International Company Profile

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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.

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