Nexxen International (NASDAQ:NEXN) Stock Rating Upgraded by Raymond James

Nexxen International (NASDAQ:NEXN - Get Free Report) was upgraded by Raymond James from a "market perform" rating to an "outperform" rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $15.00 target price on the stock. Raymond James' target price indicates a potential upside of 33.89% from the stock's current price.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reissued a "buy" rating and set a $12.00 price target on shares of Nexxen International in a research note on Thursday, March 6th. Canaccord Genuity Group began coverage on shares of Nexxen International in a report on Wednesday, March 26th. They issued a "buy" rating and a $12.00 price target on the stock. Scotiabank began coverage on shares of Nexxen International in a report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price objective for the company. Rosenblatt Securities started coverage on Nexxen International in a report on Tuesday, April 29th. They issued a "buy" rating and a $15.00 target price for the company. Finally, Craig Hallum initiated coverage on Nexxen International in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Nexxen International has an average rating of "Moderate Buy" and a consensus price target of $16.40.

Nexxen International Trading Up 2.5 %

Shares of NEXN traded up $0.27 during midday trading on Monday, hitting $11.20. The stock had a trading volume of 545,033 shares, compared to its average volume of 144,242. The stock's 50 day moving average is $8.56 and its 200 day moving average is $14.58. The firm has a market cap of $710.46 million, a PE ratio of 280.08 and a beta of 1.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. Nexxen International has a 1 year low of $6.93 and a 1 year high of $21.88.

Nexxen International declared that its board has approved a stock repurchase program on Wednesday, March 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its position in shares of Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock worth $386,000 after purchasing an additional 2,125 shares in the last quarter. JPMorgan Chase & Co. raised 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 buying an additional 11,346 shares during the last quarter. GAMMA Investing LLC raised its stake in Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock valued at $84,000 after buying an additional 8,027 shares during the last quarter. Advisors Preferred LLC acquired a new stake in Nexxen International in the fourth quarter worth about $69,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Nexxen International during the fourth quarter worth about $121,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.