Nexxen International (NASDAQ:NEXN) CFO Sells $18,420.44 in Stock

Key Points

• CFO Sagi Niri sold 2,098 shares of Nexxen International at an average price of $8.78, bringing in $18,420.44. The sale was disclosed in an SEC filing and was executed under a pre-arranged Rule 10b5-1 trading plan.
• Niri has been actively reducing his stake with multiple recent sales, including a much larger 34,667-share transaction on June 16. After the latest sale, he still held 456,925 shares valued at about $4.0 million.
• Analysts remain largely bullish on Nexxen International despite the insider selling. Eight analysts rate the stock a Buy, with a consensus “Moderate Buy” and an average price target of $11.17 versus the stock’s recent price around $8.60.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) CFO Sagi Niri sold 2,098 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $8.78, for a total transaction of $18,420.44. Following the transaction, the chief financial officer owned 456,925 shares of the company's stock, valued at $4,011,801.50. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Tuesday, June 16th, Sagi Niri sold 34,667 shares of Nexxen International stock. The shares were sold at an average price of $8.78, for a total transaction of $304,376.26.
• On Monday, June 15th, Sagi Niri sold 1,160 shares of Nexxen International stock. The shares were sold at an average price of $8.71, for a total transaction of $10,103.60.
• On Friday, June 12th, Sagi Niri sold 200 shares of Nexxen International stock. The shares were sold at an average price of $8.70, for a total transaction of $1,740.00.
• On Wednesday, June 10th, Sagi Niri sold 5,922 shares of Nexxen International stock. The stock was sold at an average price of $8.74, for a total transaction of $51,758.28.
• 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 shares were sold at an average price of $8.52, for a total value 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 value of $291,322.91.
• On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The stock was sold at an average price of $8.50, for a total value of $12,631.00.

Nexxen International Stock Performance

Shares of NEXN stock opened at $8.60 on Monday. Nexxen International Ltd. Sponsored ADR has a 12-month low of $5.60 and a 12-month high of $11.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $484.01 million, a price-to-earnings ratio of 28.67 and a beta of 1.64. The business has a 50 day simple moving average of $7.93 and a 200 day simple moving average of $6.97.

Nexxen International (NASDAQ:NEXN - Get Free Report) last announced 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 firm had revenue of $86.84 million for the quarter. On average, equities research analysts anticipate that Nexxen International Ltd. Sponsored ADR will post 0.75 EPS for the current year.

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently made changes to their positions in NEXN. California State Teachers Retirement System acquired a new stake in Nexxen International during the second quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new position in Nexxen International in the third quarter worth approximately $43,000. Jump Financial LLC bought a new position in shares of Nexxen International in the fourth quarter valued at $95,000. New York State Common Retirement Fund bought a new position in shares of Nexxen International in the second quarter valued at $124,000. Finally, Legato Capital Management LLC lifted its position in shares of 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 acquiring an additional 4,815 shares during the last quarter. 54.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEXN. Rosenblatt Securities reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a report on Wednesday, June 17th. BTIG Research boosted their price target on shares of Nexxen International from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Royal Bank Of Canada upped their price target on shares of Nexxen International from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Scotiabank increased their price objective on shares of Nexxen International from $10.00 to $11.00 and gave the company a "sector outperform" rating in a report on Wednesday, June 17th. Finally, Raymond James Financial raised their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $11.17.

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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