Nexxen International (NASDAQ:NEXN) Stock Price Down 1.9% - Time to Sell?

Key Points

• Shares fell 1.9% to $7.23 on Monday with ~312,365 shares traded (about 14% above average), down from a prior close of $7.37.
• Analyst consensus is a Moderate Buy (8 Buys, 2 Holds) with an average price target of $11.17; several firms cut targets (Needham to $7.50, Scotiabank to $10) while Rosenblatt raised its target to $16.
• Fundamentals and buyback: market cap $406.9M, P/E 17.63, last quarter EPS $0.09 on $71.01M revenue (net margin 6.87%), and the board approved a $40M repurchase program (up to 10.8% of shares).

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) dropped 1.9% during trading on Monday . The stock traded as low as $7.15 and last traded at $7.23. Approximately 312,365 shares changed hands during trading, an increase of 14% from the average daily volume of 273,639 shares. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Needham & Company LLC decreased their price target on shares of Nexxen International from $9.00 to $7.50 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Scotiabank cut their price objective on shares of Nexxen International from $12.00 to $10.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 5th. BTIG Research reduced their price objective on Nexxen International from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, March 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexxen International in a research report on Thursday, January 22nd. Finally, Rosenblatt Securities lifted their price target on Nexxen International from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.17.

Nexxen International Trading Down 1.9%

The firm has a market capitalization of $406.90 million, a P/E ratio of 17.63 and a beta of 1.63. The business's 50-day moving average is $6.82 and its 200 day moving average is $6.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.29 and a quick ratio of 1.29.

Nexxen International (NASDAQ:NEXN - Get Free Report) last posted its quarterly earnings data on Sunday, March 22nd. The company reported $0.09 earnings per share (EPS) for the quarter. Nexxen International had a net margin of 6.87% and a return on equity of 9.47%. The firm had revenue of $71.01 million during the quarter. As a group, analysts anticipate that Nexxen International Ltd. Sponsored ADR will post 0.75 EPS for the current fiscal year.

Nexxen International declared that its board has approved a share buyback program on Friday, January 2nd that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of Nexxen International

Several large investors have recently modified their holdings of NEXN. California State Teachers Retirement System bought a new position in shares of Nexxen International in the second quarter worth $25,000. Quantbot Technologies LP bought a new stake in Nexxen International during the third quarter worth about $43,000. Jump Financial LLC bought a new stake in Nexxen International during the fourth quarter worth about $95,000. SG Americas Securities LLC acquired a new stake in Nexxen International during the third quarter worth about $102,000. Finally, New York State Common Retirement Fund bought a new position in Nexxen International in the 2nd quarter valued at about $124,000. 54.24% of the stock is owned by institutional investors and hedge funds.

Nexxen International Company Profile

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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