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

Key Points

• Analyst sentiment is bullish: Nexxen International has a consensus “Moderate Buy” rating, with nine buy ratings and one hold. The average 12-month price target is $11.61, while recent targets range from $10.50 to $16.00.
• The stock has gained significant momentum: NEXN opened at $10.90, near its 52-week high of $11.13, compared with a 52-week low of $5.60. Its 50-day and 200-day moving averages are $9.40 and $7.79, respectively.
• Insider selling contrasts with institutional activity: CFO Sagi Niri sold 68,886 shares under a pre-arranged Rule 10b5-1 plan, and insiders sold 258,468 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company, with several firms recently initiating or increasing positions.

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One equities 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 analysts that have issued ratings on the stock in the last year is $11.6111.

A number of research firms recently commented on NEXN. Craig Hallum raised shares of Nexxen International from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Thursday, July 9th. Rosenblatt Securities reissued a "buy" rating and issued a $16.00 price target on shares of Nexxen International in a research report on Wednesday, June 17th. Needham & Company LLC upped their price objective on shares of Nexxen International from $8.50 to $10.50 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Wall Street Zen raised Nexxen International from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Finally, Royal Bank Of Canada lifted their target price on Nexxen International from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Thursday, May 14th.

Insider Transactions at Nexxen International

In related news, CFO Sagi Niri sold 68,886 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88. Following the transaction, the chief financial officer owned 381,856 shares in the company, valued at $3,467,252.48. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 258,468 shares of company stock worth $2,350,050.

Institutional Investors Weigh In On Nexxen International

Large investors have recently modified their holdings of the company. California State Teachers Retirement System purchased a new stake in Nexxen International in the 2nd quarter valued at $25,000. Quantbot Technologies LP purchased a new position in Nexxen International during the 3rd quarter worth $43,000. Legato Capital Management LLC grew its position in Nexxen International by 23.8% during the 4th quarter. Legato Capital Management LLC now owns 25,028 shares of the company's stock worth $164,000 after purchasing an additional 4,815 shares during the last quarter. GAMMA Investing LLC increased its stake in Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company's stock valued at $149,000 after purchasing an additional 6,764 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Nexxen International in the second quarter valued at $124,000. 54.24% of the stock is owned by institutional investors and hedge funds.

Nexxen International Stock Performance

Shares of NEXN opened at $10.90 on Friday. The company has a market capitalization of $613.50 million, a price-to-earnings ratio of 36.33 and a beta of 1.60. Nexxen International has a 52-week low of $5.60 and a 52-week high of $11.13. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $9.40 and a 200 day moving average price of $7.79.

Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. The company had revenue of $86.84 million for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. Research analysts predict that Nexxen International will post 0.75 EPS for the current fiscal year.

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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