Nexxen International's (NEXN) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities researchers at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on NEXN. BTIG Research began coverage on shares of Nexxen International in a research note on Tuesday, October 7th. They issued a "buy" rating and a $13.00 target price for the company. Wall Street Zen cut shares of Nexxen International from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $16.00 price objective on shares of Nexxen International in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $14.78.

Nexxen International Trading Up 0.8%

Shares of NASDAQ:NEXN opened at $8.58 on Friday. The company has a market cap of $544.14 million, a P/E ratio of 13.62 and a beta of 1.71. The stock's 50-day moving average is $9.27 and its 200-day moving average is $9.96. Nexxen International has a 52-week low of $6.93 and a 52-week high of $12.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35.

Nexxen International declared that its Board of Directors has approved a share repurchase program on Friday, August 15th that allows the company to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NEXN. California State Teachers Retirement System purchased a new position in Nexxen International during the second quarter worth about $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexxen International in the second quarter valued at approximately $90,000. SG Americas Securities LLC bought a new stake in shares of Nexxen International in the third quarter valued at approximately $102,000. New York State Common Retirement Fund bought a new stake in shares of Nexxen International in the second quarter valued at approximately $124,000. Finally, Jump Financial LLC bought a new stake in Nexxen International during the 1st quarter worth approximately $146,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.

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