Nexxen International (NASDAQ:NEXN) Coverage Initiated at Craig Hallum

Analysts at Craig Hallum assumed coverage on shares of Nexxen International (NASDAQ:NEXN - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating and a $15.00 price target on the stock. Craig Hallum's target price would suggest a potential upside of 67.04% from the stock's current price.

NEXN has been the topic of several other reports. Royal Bank of Canada upped their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Scotiabank began coverage on Nexxen International in a research report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price target on the stock. Needham & Company LLC reissued a "buy" rating and issued a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. JMP Securities restated a "market outperform" rating and issued a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Finally, Canaccord Genuity Group began coverage on Nexxen International in a research report on Wednesday, March 26th. They set a "buy" rating and a $12.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Nexxen International currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

Nexxen International Stock Performance

Shares of NASDAQ:NEXN traded up $0.17 during trading on Thursday, hitting $8.98. The stock had a trading volume of 188,914 shares, compared to its average volume of 119,862. The stock has a 50-day simple moving average of $9.63 and a two-hundred day simple moving average of $15.29. The stock has a market capitalization of $569.48 million, a price-to-earnings ratio of 224.50 and a beta of 1.81. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04.

Nexxen International announced that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

Several large investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC increased its position in shares of Nexxen International by 86.3% during the fourth quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock worth $5,687,000 after purchasing an additional 262,961 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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. Marshall Wace LLP grew its holdings in shares of 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 buying an additional 315,864 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Nexxen International in the fourth quarter valued at about $1,456,000. Finally, Millennium Management LLC lifted its stake in shares of Nexxen International by 45.7% in the fourth quarter. Millennium Management LLC now owns 98,742 shares of the company's stock worth $989,000 after buying an additional 30,973 shares in the last quarter. 54.24% of the stock is currently owned by hedge funds and other 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.