Sagi Niri Sells 17,578 Shares of Nexxen International (NASDAQ:NEXN) Stock

Key Points

• CFO Sagi Niri sold 17,578 Nexxen International shares at an average price of $10.51, generating $184,744.78. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 12.2% to 126,488 shares.
• Nexxen shares fell 2.0% to $10.35, but remain near their 12-month high of $10.83 and well above their 50-day and 200-day moving averages. The company reported quarterly EPS of $0.06 on revenue of $86.84 million.
• Analyst sentiment remains favorable, with nine Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $11.61. Institutional investors own approximately 54.24% of the company.

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) CFO Sagi Niri sold 17,578 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the transaction, the chief financial officer directly owned 126,488 shares in the company, valued at $1,329,388.88. This represents a 12.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sagi Niri also recently made the following trade(s):

• On Friday, July 10th, Sagi Niri sold 3,655 shares of Nexxen International stock. The shares were sold at an average price of $9.73, for a total value of $35,563.15.
• On Monday, July 6th, Sagi Niri sold 199 shares of Nexxen International stock. The stock was sold at an average price of $9.54, for a total transaction of $1,898.46.
• On Thursday, July 2nd, Sagi Niri sold 49,826 shares of Nexxen International stock. The stock was sold at an average price of $9.54, for a total value of $475,340.04.
• On Tuesday, June 30th, Sagi Niri sold 6,183 shares of Nexxen International stock. The shares were sold at an average price of $9.13, for a total value of $56,450.79.
• On Monday, June 29th, Sagi Niri sold 68,886 shares of Nexxen International stock. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88.
• On Wednesday, June 17th, Sagi Niri sold 2,098 shares of Nexxen International stock. The stock was sold at an average price of $8.78, for a total transaction of $18,420.44.
• On Tuesday, June 16th, Sagi Niri sold 34,667 shares of Nexxen International stock. The stock was sold at an average price of $8.78, for a total value of $304,376.26.
• On Monday, June 15th, Sagi Niri sold 1,160 shares of Nexxen International stock. The shares were sold at an average price of $8.71, for a total transaction of $10,103.60.
• On Friday, June 12th, Sagi Niri sold 200 shares of Nexxen International stock. The stock was sold at an average price of $8.70, for a total transaction of $1,740.00.
• On Wednesday, June 10th, Sagi Niri sold 5,922 shares of Nexxen International stock. The stock was sold at an average price of $8.74, for a total value of $51,758.28.

Nexxen International Trading Down 2.0%

Nexxen International stock traded down $0.21 during midday trading on Thursday, reaching $10.35. The stock had a trading volume of 58,729 shares, compared to its average volume of 354,268. The stock's 50-day simple moving average is $9.09 and its 200 day simple moving average is $7.58. Nexxen International Ltd. Sponsored ADR has a twelve month low of $5.60 and a twelve month high of $10.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $582.22 million, a PE ratio of 34.40 and a beta of 1.62.

Nexxen International (NASDAQ:NEXN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. The firm had revenue of $86.84 million for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. Analysts expect that Nexxen International Ltd. Sponsored ADR will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEXN. Rock Point Advisors LLC grew its stake in Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company's stock valued at $6,216,000 after acquiring an additional 283,295 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Nexxen International during the 2nd quarter valued at $124,000. FourThought Financial Partners LLC acquired a new stake in shares of Nexxen International during the 3rd quarter valued at $168,000. Lazard Asset Management LLC grew its holdings in shares of Nexxen International by 173.4% during the 2nd quarter. Lazard Asset Management LLC now owns 23,164 shares of the company's stock valued at $241,000 after acquiring an additional 14,692 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its stake in shares of Nexxen International by 470.3% in the second quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company's stock worth $342,000 after acquiring an additional 27,110 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC increased their price objective on shares of Nexxen International from $8.50 to $10.50 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Craig Hallum upgraded Nexxen International from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research note on Thursday, July 9th. Wall Street Zen raised Nexxen International from a "hold" rating to a "buy" rating in a report on Saturday, May 23rd. Scotiabank increased their target price on Nexxen International from $10.00 to $11.00 and gave the company a "sector outperform" rating in a research note on Wednesday, June 17th. Finally, BTIG Research increased their price objective on shares of Nexxen International from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Nexxen International currently has an average rating of "Moderate Buy" and an average target price of $11.61.

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. 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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