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

Nexxen International logo with Communication Services background

Key Points

  • Nexxen International Ltd. has received a consensus rating of "Buy" from eight research firms, with an average 12-month target price of $15.00.
  • Institutional investors have increased their holdings in Nexxen International significantly, with the State of Tennessee Department of Treasury raising its share ownership by 470.3% in the second quarter.
  • The company announced a stock repurchase plan authorizing the buyback of $20.00 million in shares, indicating confidence from leadership regarding the stock's valuation.
  • Looking to export and analyze Nexxen International data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) have received an average recommendation of "Buy" from the eight research firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.00.

A number of research analysts have weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price on shares of Nexxen International in a report on Friday, May 23rd. Raymond James Financial raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price target on the stock in a report on Monday, May 5th. Canaccord Genuity Group raised their target price on Nexxen International from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Royal Bank Of Canada raised their target price on Nexxen International from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $15.00 price target on shares of Nexxen International in a research note on Friday, May 23rd.

Get Our Latest Research Report on NEXN

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State of Tennessee Department of Treasury lifted its holdings in shares of Nexxen International by 470.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company's stock valued at $342,000 after acquiring an additional 27,110 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Nexxen International by 173.4% in the 2nd quarter. Lazard Asset Management LLC now owns 23,164 shares of the company's stock valued at $241,000 after acquiring an additional 14,692 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company's stock valued at $1,271,000 after acquiring an additional 95,219 shares during the last quarter. California State Teachers Retirement System bought a new position in shares of Nexxen International in the 2nd quarter valued at about $25,000. Finally, JB Capital Partners LP lifted its holdings in shares of Nexxen International by 1.8% in the 2nd quarter. JB Capital Partners LP now owns 3,555,097 shares of the company's stock valued at $37,009,000 after acquiring an additional 62,540 shares during the last quarter. Institutional investors own 54.24% of the company's stock.

Nexxen International Stock Up 6.2%

NEXN opened at $10.17 on Friday. The company has a market cap of $644.98 million, a P/E ratio of 16.14 and a beta of 1.74. The business's 50-day moving average price is $10.09 and its 200-day moving average price is $9.68. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. Nexxen International has a 12 month low of $6.93 and a 12 month high of $12.60.

Nexxen International declared that its board has approved a stock repurchase plan on Friday, August 15th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

About Nexxen International

(Get Free Report)

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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Analyst Recommendations for Nexxen International (NASDAQ:NEXN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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