Nexxen International (NASDAQ:NEXN) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Nexxen International (NASDAQ:NEXN - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada raised their target price on Nexxen International from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Rosenblatt Securities boosted their price objective on Nexxen International from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JMP Securities upped their price objective on Nexxen International from $11.00 to $15.00 and gave the company a "market outperform" rating in a research note on Thursday, May 15th. Scotiabank started coverage on Nexxen International in a report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price objective for the company. Finally, Raymond James raised shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 target price on the stock in a report on Monday, May 5th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $15.33.

Nexxen International Stock Performance

Shares of Nexxen International stock traded up $0.30 on Friday, reaching $11.86. The stock had a trading volume of 308,277 shares, compared to its average volume of 165,955. The business's 50-day moving average price is $9.53 and its two-hundred day moving average price is $14.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88. The stock has a market cap of $751.81 million, a P/E ratio of 296.00 and a beta of 1.78.

Nexxen International declared that its Board of Directors has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Institutional Trading of Nexxen International

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company's stock valued at $466,000 after acquiring an additional 11,346 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Nexxen International during the fourth quarter worth $69,000. D.A. Davidson & CO. acquired a new position in Nexxen International during the 4th quarter worth approximately $121,000. Rice Hall James & Associates LLC raised its holdings in shares of 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 purchasing an additional 262,961 shares during the last quarter. Finally, Navellier & Associates Inc. bought a new stake in Nexxen International during the 4th quarter worth about $984,000. 54.24% of the stock is owned by institutional investors.

Nexxen International Company Profile

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.