Numerai GP LLC Invests $315,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Numerai GP LLC purchased a new position in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 31,481 shares of the company's stock, valued at approximately $315,000.

Several other hedge funds also recently modified their holdings of the business. Advisors Preferred LLC bought a new stake in shares of Nexxen International during the fourth quarter valued at approximately $69,000. Virtu Financial LLC bought a new stake in Nexxen International in the fourth quarter valued at $110,000. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 11,346 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Nexxen International during the 4th quarter worth approximately $121,000. Finally, Jane Street Group LLC acquired a new stake in Nexxen International during the 4th quarter valued at $121,000. 54.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Craig Hallum started coverage on Nexxen International in a research note on Thursday, April 10th. They issued a "buy" rating and a $15.00 target price for the company. Scotiabank started coverage on Nexxen International in a report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price target on the stock. Canaccord Genuity Group upped their target price on shares of Nexxen International from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Rosenblatt Securities lifted their price target on shares of Nexxen International from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Raymond James upgraded shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price objective on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Nexxen International has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Nexxen International Stock Up 1.2%

Shares of NEXN traded up $0.14 during midday trading on Wednesday, hitting $11.63. The stock had a trading volume of 161,134 shares, compared to its average volume of 158,900. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market cap of $737.54 million, a price-to-earnings ratio of 291.00 and a beta of 1.78. The company has a 50 day simple moving average of $9.16 and a two-hundred day simple moving average of $14.29. Nexxen International Ltd. has a twelve month low of $6.93 and a twelve month high of $21.88.

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

Nexxen International Company Profile

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.