Nexxen International (NASDAQ:NEXN) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Nexxen International's stock has received a "hold (c)" rating from Weiss Ratings, with a consensus target price of $14.78 from various analysts.
• The company announced a share buyback plan allowing it to repurchase up to $20 million in shares, indicating leadership's belief that the stock is undervalued.
• Nexxen International's stock opened at $8.61 and has a market cap of $546.02 million, with significant recent purchases from institutional investors, including Bank of America increasing its stake by 1,898.3%.

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "hold (c)" rating restated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on the company. BTIG Research began coverage on Nexxen International in a research note on Tuesday. They issued a "buy" rating and a $13.00 price target on the stock. Wall Street Zen lowered Nexxen International from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $16.00 price objective on shares of Nexxen International in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.78.

Nexxen International Stock Up 1.7%

Nexxen International stock opened at $8.61 on Wednesday. Nexxen International has a 1-year low of $6.93 and a 1-year high of $12.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $546.02 million, a PE ratio of 13.67 and a beta of 1.71. The stock's fifty day moving average is $9.56 and its two-hundred day moving average is $9.94.

Nexxen International announced that its Board of Directors has approved a share buyback plan on Friday, August 15th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

Several institutional investors have recently made changes to their positions in NEXN. California State Teachers Retirement System purchased a new stake in shares of Nexxen International during the 2nd quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexxen International during the 2nd quarter valued at about $90,000. New York State Common Retirement Fund bought a new position in shares of Nexxen International in the second quarter valued at approximately $124,000. Jump Financial LLC purchased a new stake in shares of Nexxen International in the 1st quarter valued at approximately $146,000. Finally, Bank of America Corp DE grew its position in Nexxen International by 1,898.3% in the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company's stock worth $151,000 after purchasing an additional 14,351 shares during the last quarter. 54.24% of the stock is owned by hedge funds and other institutional investors.

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.

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