Nexxen International's (NEXN) "Buy" Rating Reiterated at Rosenblatt Securities

Key Points

• Rosenblatt Securities maintains a buy rating for Nexxen International (NASDAQ:NEXN) with a price target of $16.00, indicating a potential 67.01% upside from its last closing price.
• The company has announced a $20 million share buyback plan, suggesting that its leadership believes the stock is currently undervalued.
• Consensus ratings from analysts show that Nexxen International has been rated as a buy by nine analysts, with an average price target of $14.33.

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Rosenblatt Securities in a research note issued on Friday,Benzinga reports. They currently have a $16.00 price target on the stock. Rosenblatt Securities' price target points to a potential upside of 62.11% from the stock's current price.

Several other brokerages have also recently issued reports on NEXN. Wall Street Zen cut shares of Nexxen International from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Raymond James Financial raised shares of Nexxen International from a "market perform" rating to an "outperform" rating and set a $15.00 price target on the stock in a research report on Monday, May 5th. JMP Securities reaffirmed a "market outperform" rating and set a $15.00 price target on shares of Nexxen International in a research report on Friday, May 23rd. Canaccord Genuity Group lifted their price target 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Nexxen International in a research report on Friday, May 23rd. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Nexxen International currently has a consensus rating of "Buy" and an average target price of $15.00.

Nexxen International Trading Up 0.1%

Shares of NASDAQ NEXN traded up $0.01 during trading on Friday, hitting $9.87. 281,547 shares of the company traded hands, compared to its average volume of 413,956. Nexxen International has a 1 year low of $6.93 and a 1 year high of $12.60. The company has a 50-day moving average price of $10.09 and a 200-day moving average price of $9.68. The firm has a market capitalization of $625.93 million, a P/E ratio of 15.66 and a beta of 1.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04.

Nexxen International announced that its Board of Directors has authorized a stock buyback program on Friday, August 15th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System acquired a new position in Nexxen International during the second quarter valued at $25,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Nexxen International in the 2nd quarter valued at about $90,000. Jane Street Group LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at about $121,000. New York State Common Retirement Fund acquired a new position in shares of Nexxen International in the 2nd quarter valued at about $124,000. Finally, Jump Financial LLC acquired a new position in Nexxen International in the 1st quarter valued at approximately $146,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

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.