Nexxen International's (NEXN) "Buy" Rating Reaffirmed at Rosenblatt Securities

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

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Nexxen International in a report on Friday, May 23rd. Scotiabank initiated coverage on shares of Nexxen International in a report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price objective for the company. Craig Hallum initiated coverage on shares of Nexxen International in a report on Thursday, April 10th. They set a "buy" rating and a $15.00 price objective for the company. Raymond James upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a report on Monday, May 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a report on Monday, May 12th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $15.33.

Nexxen International Stock Down 1.0%

NASDAQ:NEXN traded down $0.12 during trading hours on Friday, reaching $11.60. The company had a trading volume of 287,684 shares, compared to its average volume of 169,487. 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 $735.64 million, a price-to-earnings ratio of 290.00 and a beta of 1.78. The business's 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $14.04. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88.

Nexxen International declared that its board has authorized a share repurchase plan on Wednesday, March 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Advisors Preferred LLC bought a new position in shares of Nexxen International during the fourth quarter valued at about $69,000. Virtu Financial LLC bought a new position in shares of Nexxen International during the fourth quarter valued at about $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International during the fourth quarter valued at about $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International during the fourth quarter valued at about $121,000. Finally, Sei Investments Co. bought a new position in shares of Nexxen International during the fourth quarter valued at about $127,000. 54.24% of the stock is owned by institutional investors.

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.