Nexxen International (NASDAQ:NEXN) Sets New 12-Month High - Still a Buy?

Key Points

• Nexxen International shares reached a new 52-week high of $10.75, up from the previous close of $10.47. The stock’s 50-day and 200-day moving averages are $9.30 and $7.73, respectively.
• Analyst sentiment is broadly positive: nine analysts rate the stock a Buy and one rates it a Hold, producing a “Moderate Buy” consensus and an average price target of $11.61.
• The company reported quarterly EPS of $0.06 on revenue of $86.84 million, while analysts expect full-year EPS of $0.75. However, insiders have sold 258,468 shares worth about $2.35 million over the past 90 days.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $10.75 and last traded at $10.75, with a volume of 204318 shares changing hands. The stock had previously closed at $10.47.

Analyst Ratings Changes

A number of brokerages recently weighed in on NEXN. BTIG Research increased their price objective on shares of Nexxen International from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Raymond James Financial upped their price objective on Nexxen International from $9.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, June 17th. Scotiabank boosted their price objective on Nexxen International from $10.00 to $11.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, June 17th. Craig Hallum upgraded shares of Nexxen International from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their target price on Nexxen International from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Nexxen International currently has an average rating of "Moderate Buy" and an average target price of $11.61.

Nexxen International Stock Up 3.0%

The stock has a market cap of $606.92 million, a P/E ratio of 35.84 and a beta of 1.60. The company's 50 day moving average price is $9.30 and its two-hundred day moving average price is $7.73. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04.

Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%.The company had revenue of $86.84 million for the quarter. As a group, research analysts expect that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current year.

Insider Buying and Selling

In other Nexxen International news, CFO Sagi Niri sold 68,886 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88. Following the completion of the sale, the chief financial officer owned 381,856 shares in the company, valued at $3,467,252.48. This represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 258,468 shares of company stock valued at $2,350,050 over the last ninety days.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NEXN. California State Teachers Retirement System purchased a new position in Nexxen International in the second quarter valued at about $25,000. Quantbot Technologies LP purchased a new position in shares of Nexxen International in the 3rd quarter worth approximately $43,000. New York State Common Retirement Fund bought a new position in shares of Nexxen International during the 2nd quarter worth approximately $124,000. Jump Financial LLC purchased a new stake in Nexxen International during the fourth quarter valued at approximately $95,000. Finally, GAMMA Investing LLC boosted its stake in Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company's stock valued at $149,000 after acquiring an additional 6,764 shares in the last quarter. 54.24% of the stock is owned by institutional investors.

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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.

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