Nexxen International (NASDAQ:NEXN) Now Covered by Analysts at Rosenblatt Securities

Stock analysts at Rosenblatt Securities assumed coverage on shares of Nexxen International (NASDAQ:NEXN - Get Free Report) in a report released on Tuesday,Benzinga reports. The brokerage set a "buy" rating and a $15.00 price target on the stock. Rosenblatt Securities' target price suggests a potential upside of 54.64% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a "buy" rating and issued a $12.00 target price on shares of Nexxen International in a research report on Thursday, March 6th. JMP Securities reissued a "market outperform" rating and set a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Scotiabank began coverage on Nexxen International in a report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 target price for the company. Craig Hallum assumed coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 target price for the company. Finally, Canaccord Genuity Group assumed coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They issued a "buy" rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $16.56.

Nexxen International Trading Up 1.1 %

NASDAQ:NEXN opened at $9.70 on Tuesday. Nexxen International has a 12 month low of $6.93 and a 12 month high of $21.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $615.14 million, a P/E ratio of 242.50 and a beta of 1.81. The firm has a fifty day simple moving average of $8.30 and a 200-day simple moving average of $14.84.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in Nexxen International by 471.0% during the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company's stock worth $3,837,000 after purchasing an additional 315,864 shares during the period. Renaissance Technologies LLC raised its holdings in Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after purchasing an additional 276,600 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Nexxen International by 86.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock valued at $5,687,000 after acquiring an additional 262,961 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Nexxen International in the fourth quarter valued at about $1,456,000. Finally, Navellier & Associates Inc. acquired a new position in Nexxen International during the fourth quarter valued at approximately $984,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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