Rosenblatt Securities Reaffirms "Buy" Rating for Nexxen International (NASDAQ:NEXN)

Rosenblatt Securities reissued their buy rating on shares of Nexxen International (NASDAQ:NEXN - Free Report) in a report released on Friday,Benzinga reports. Rosenblatt Securities currently has a $16.00 price target on the stock.

A number of other research firms have also recently issued reports on NEXN. Scotiabank assumed coverage on shares of Nexxen International in a research note on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price target on the stock. JMP Securities reissued a "market outperform" rating and issued a $15.00 price target on shares of Nexxen International in a research note on Friday, May 23rd. Royal Bank of Canada lifted their price target on shares of Nexxen International from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Canaccord Genuity Group lifted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Raymond James raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price target on the stock in a research note on Monday, May 5th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $15.33.

Nexxen International Price Performance

Shares of NEXN stock traded down $0.08 during trading hours on Friday, hitting $11.57. 108,269 shares of the company's stock were exchanged, compared to its average volume of 170,742. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market cap of $733.73 million, a P/E ratio of 289.25 and a beta of 1.78. The firm has a 50 day moving average of $9.87 and a two-hundred day moving average of $14.01. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88.

Nexxen International declared that its Board of Directors has approved a share buyback program on Wednesday, March 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

A number of institutional investors have recently added to or reduced their stakes in the stock. JB Capital Partners LP lifted its position in Nexxen International by 2,490.0% during the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company's stock worth $29,163,000 after buying an additional 3,357,707 shares in the last quarter. Jump Financial LLC purchased a new position in Nexxen International during the first quarter worth approximately $146,000. Quantbot Technologies LP purchased a new position in Nexxen International during the first quarter worth approximately $153,000. Navellier & Associates Inc. lifted its position in Nexxen International by 1.2% during the first quarter. Navellier & Associates Inc. now owns 99,374 shares of the company's stock worth $830,000 after buying an additional 1,182 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in Nexxen International during the first quarter worth approximately $174,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.