Nexxen International's (NEXN) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Nexxen International (NASDAQ:NEXN - Free Report) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

A number of other brokerages also recently issued reports on NEXN. Raymond James raised Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price target for the company in a report on Monday, May 5th. Royal Bank of Canada lifted their price target on shares of Nexxen International from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Canaccord Genuity Group lifted their price target on Nexxen International from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Scotiabank initiated coverage on Nexxen International in a report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price objective on the stock. Finally, JMP Securities increased their target price on Nexxen International from $11.00 to $15.00 and gave the company a "market outperform" rating in a report on Thursday, May 15th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Nexxen International has a consensus rating of "Buy" and a consensus target price of $15.33.

Nexxen International Stock Up 8.9%

Shares of Nexxen International stock traded up $0.94 during trading on Friday, hitting $11.56. 790,650 shares of the stock traded hands, compared to its average volume of 357,619. The firm has a market cap of $733.10 million, a P/E ratio of 289.00 and a beta of 1.78. 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 stock's fifty day simple moving average is $9.45 and its 200 day simple moving average is $14.13. Nexxen International has a 52-week low of $5.57 and a 52-week high of $12.60.

Nexxen International declared that its Board of Directors has approved a stock 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 repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Nexxen International

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Preferred LLC bought a new position in Nexxen International in the 4th quarter worth approximately $69,000. Virtu Financial LLC bought a new stake in Nexxen International during the fourth quarter worth about $110,000. D.A. Davidson & CO. acquired a new stake in Nexxen International in the 4th quarter valued at about $121,000. Jane Street Group LLC bought a new position in shares of Nexxen International in the fourth quarter valued at about $121,000. Finally, Sei Investments Co. acquired a new position in Nexxen International in the 4th quarter valued at $127,000. 54.24% of the stock is currently owned by 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.