Nexxen International (NASDAQ:NEXN) CFO Sagi Niri Sells 5,922 Shares

Key Points

• Nexxen International CFO Sagi Niri sold 5,922 shares on June 10 at an average price of $8.74, totaling about $51,758. The transaction was disclosed in an SEC filing and was made under a pre-arranged Rule 10b5-1 trading plan.
• Niri has been actively selling shares recently, including several prior transactions in early June and late May. After the latest sale, he still owned 495,050 shares, valued at roughly $4.33 million.
• The stock traded down 1.9% to $8.50 amid lighter-than-average volume. Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average target price of $10.69.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) CFO Sagi Niri sold 5,922 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $8.74, for a total transaction of $51,758.28. Following the transaction, the chief financial officer owned 495,050 shares in the company, valued at $4,326,737. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sagi Niri also recently made the following trade(s):

• On Thursday, June 4th, Sagi Niri sold 13,164 shares of Nexxen International stock. The stock was sold at an average price of $8.54, for a total transaction of $112,420.56.
• On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The shares were sold at an average price of $8.58, for a total transaction of $8,811.66.
• On Tuesday, June 2nd, Sagi Niri sold 18,660 shares of Nexxen International stock. The stock was sold at an average price of $8.52, for a total transaction of $158,983.20.
• On Monday, June 1st, Sagi Niri sold 33,757 shares of Nexxen International stock. The stock was sold at an average price of $8.63, for a total transaction of $291,322.91.
• On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The shares were sold at an average price of $8.50, for a total transaction of $12,631.00.

Nexxen International Trading Down 1.9%

Shares of NASDAQ:NEXN traded down $0.17 on Thursday, reaching $8.50. 45,465 shares of the company traded hands, compared to its average volume of 326,953. The stock has a market capitalization of $478.61 million, a P/E ratio of 28.32 and a beta of 1.64. The business's 50-day simple moving average is $7.65 and its 200 day simple moving average is $6.87. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International Ltd. Sponsored ADR has a 52 week low of $5.60 and a 52 week high of $11.59.

Nexxen International (NASDAQ:NEXN - Get Free Report) last issued its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%.The company had revenue of $86.84 million during the quarter. As a group, equities analysts anticipate that Nexxen International Ltd. Sponsored ADR will post 0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new position in shares of Nexxen International during the second quarter valued at approximately $25,000. Navellier & Associates Inc. grew its stake in shares of Nexxen International by 4.0% in the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company's stock worth $1,019,000 after buying an additional 4,200 shares during the last quarter. Quantbot Technologies LP bought a new position in Nexxen International during the 3rd quarter valued at approximately $43,000. Legato Capital Management LLC increased 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 valued at $164,000 after buying an additional 4,815 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Nexxen International during the second quarter valued at $124,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Nexxen International from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Royal Bank Of Canada boosted their price objective on shares of Nexxen International from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Scotiabank dropped their target price on shares of Nexxen International from $12.00 to $10.00 and set a "sector outperform" rating for the company in a report on Thursday, March 5th. BTIG Research cut their target price on Nexxen International from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, March 19th. Finally, Needham & Company LLC upped their price target on Nexxen International from $7.50 to $8.50 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Nexxen International currently has an average rating of "Moderate Buy" and an average target price of $10.69.

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. 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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