Nexxen International (NASDAQ:NEXN) Rating Lowered to Buy at Wall Street Zen

Nexxen International (NASDAQ:NEXN - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also recently weighed in on NEXN. Canaccord Genuity Group boosted their price objective on Nexxen International from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Raymond James Financial raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research report on Monday, May 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 target price on shares of Nexxen International in a research report on Friday, May 23rd. Rosenblatt Securities reiterated a "buy" rating and set a $16.00 target price on shares of Nexxen International in a research note on Friday, May 30th. Finally, Scotiabank initiated coverage on shares of Nexxen International in a research report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price target on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $14.33.

Nexxen International Stock Up 1.3%

NEXN opened at $10.16 on Friday. The firm has a market cap of $644.35 million, a P/E ratio of 19.92 and a beta of 1.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.46 and a current ratio of 1.46. The business has a 50 day moving average price of $10.50 and a 200 day moving average price of $9.64. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JB Capital Partners LP raised 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. Marshall Wace LLP grew its position in Nexxen International by 471.0% in the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company's stock valued at $3,837,000 after purchasing an additional 315,864 shares in the last quarter. Renaissance Technologies LLC increased its stake in Nexxen International by 176.1% in the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock valued at $4,346,000 after buying an additional 276,600 shares during the last quarter. Rock Point Advisors LLC raised its holdings in Nexxen International by 32.7% during the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company's stock worth $5,373,000 after acquiring an additional 158,397 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Nexxen International during the fourth quarter valued at approximately $1,456,000. Institutional investors and hedge funds own 54.24% of the company's stock.

About Nexxen International

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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