Nexxen International (NASDAQ:NEXN - Get Free Report) had its price target lifted by equities researchers at Royal Bank of Canada from $13.00 to $14.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's target price would indicate a potential upside of 24.89% from the stock's current price.
Several other analysts have also commented on NEXN. Rosenblatt Securities initiated coverage on shares of Nexxen International in a research report on Tuesday, April 29th. They set a "buy" rating and a $15.00 price target for the company. Craig Hallum initiated coverage on Nexxen International in a research note on Thursday, April 10th. They issued a "buy" rating and a $15.00 price target for the company. JMP Securities restated a "market outperform" rating and set a $22.00 price target on shares of Nexxen International in a research note on Monday, January 27th. Canaccord Genuity Group increased their price objective on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Raymond James upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 target price for the company in a research note on Monday, May 5th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Nexxen International presently has an average rating of "Moderate Buy" and an average target price of $15.00.
Read Our Latest Analysis on NEXN
Nexxen International Stock Down 3.4%
NASDAQ:NEXN traded down $0.39 during trading hours on Monday, reaching $11.21. The company's stock had a trading volume of 489,176 shares, compared to its average volume of 155,418. The stock has a 50 day moving average price of $9.01 and a two-hundred day moving average price of $14.37. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $710.90 million, a P/E ratio of 280.25 and a beta of 1.78. Nexxen International has a 12 month low of $6.93 and a 12 month high of $21.88.
Nexxen International announced that its board has authorized a share buyback program on Wednesday, March 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JB Capital Partners LP lifted its stake in shares of Nexxen International by 2,490.0% in the 1st quarter. JB Capital Partners LP now owns 3,492,557 shares of the company's stock valued at $29,163,000 after purchasing an additional 3,357,707 shares during the period. Jump Financial LLC acquired a new stake in Nexxen International during the 1st quarter worth $146,000. Quantbot Technologies LP purchased a new stake in Nexxen International during the 1st quarter valued at about $153,000. Navellier & Associates Inc. raised its holdings in Nexxen International by 1.2% in the 1st quarter. Navellier & Associates Inc. now owns 99,374 shares of the company's stock valued at $830,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in Nexxen International in the 1st quarter valued at about $174,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
Nexxen International Company Profile
(
Get Free Report)
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.
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