Nexxen International (NASDAQ:NEXN) Director Sells 11,000 Shares of Stock

Key Points

• Director Daniel Yosef Kerstein sold 11,000 shares of Nexxen International at an average price of $10.38, generating $114,180. His remaining stake fell by 24.08% to 34,678 shares.
• Nexxen shares recently traded at $10.14, down 1%, despite the company beating quarterly expectations with adjusted earnings of $0.23 per share and revenue of $100.52 million.
• Analyst sentiment remains positive, with nine Buy ratings and one Hold rating, an average “Moderate Buy” consensus, and a $12.89 average price target. Institutional investors also increased holdings, with institutions owning 54.24% of the stock.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) Director Daniel Yosef Kerstein sold 11,000 shares of Nexxen International stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the sale, the director owned 34,678 shares in the company, valued at $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Nexxen International Stock Down 1.0%

Shares of Nexxen International stock traded down $0.10 on Wednesday, hitting $10.14. 184,551 shares of the company's stock traded hands, compared to its average volume of 369,054. The stock has a market cap of $570.62 million, a P/E ratio of 46.06 and a beta of 1.59. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The firm's 50-day moving average is $9.69 and its 200 day moving average is $8.00. Nexxen International Ltd. Sponsored ADR has a 52-week low of $5.60 and a 52-week high of $11.30.

Nexxen International (NASDAQ:NEXN - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. The business had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. Equities analysts anticipate that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NEXN shares. Wall Street Zen upgraded shares of Nexxen International from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings cut Nexxen International from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group upped their price objective on Nexxen International from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Needham & Company LLC lifted their target price on Nexxen International from $10.50 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, BTIG Research lifted their target price on Nexxen International from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.89.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company's stock valued at $5,307,000 after buying an additional 465,936 shares during the last quarter. Rhumbline Advisers lifted its holdings in Nexxen International by 1,244.5% in the second quarter. Rhumbline Advisers now owns 59,926 shares of the company's stock worth $624,000 after acquiring an additional 55,469 shares during the last quarter. New York State Common Retirement Fund bought a new position in Nexxen International in the second quarter worth about $124,000. California State Teachers Retirement System acquired a new position in Nexxen International in the second quarter valued at approximately $25,000. Finally, BNP Paribas Financial Markets boosted its stake in Nexxen International by 354.1% in the second 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 period. 54.24% of the stock is currently owned by institutional investors.

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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