Walleye Capital LLC Invests $642,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Walleye Capital LLC acquired a new position in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 64,047 shares of the company's stock, valued at approximately $642,000. Walleye Capital LLC owned about 0.10% of Nexxen International at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NEXN. Rice Hall James & Associates LLC boosted its holdings in shares of Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock worth $5,687,000 after buying an additional 262,961 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Nexxen International by 176.1% in the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after buying an additional 276,600 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Nexxen International in the 4th quarter worth about $1,456,000. Navellier & Associates Inc. purchased a new position in shares of Nexxen International in the 4th quarter worth about $984,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Nexxen International in the 4th quarter valued at about $598,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NEXN shares. Needham & Company LLC restated a "buy" rating and issued a $12.00 price objective on shares of Nexxen International in a research note on Thursday, March 6th. Scotiabank began coverage on shares of Nexxen International in a research report on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price objective on the stock. Canaccord Genuity Group began coverage on Nexxen International in a research note on Wednesday, March 26th. They issued a "buy" rating and a $12.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Finally, Craig Hallum began coverage on shares of Nexxen International in a report on Thursday, April 10th. They issued a "buy" rating and a $15.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

Nexxen International Trading Up 1.1 %

Shares of NASDAQ NEXN traded up $0.11 during midday trading on Monday, hitting $9.70. 387,092 shares of the company traded hands, compared to its average volume of 131,593. The firm has a market cap of $615.14 million, a P/E ratio of 242.50 and a beta of 1.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International Ltd. has a 12-month low of $6.93 and a 12-month high of $21.88. The stock has a 50-day moving average price of $8.30 and a 200 day moving average price of $14.84.

Nexxen International announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Nexxen International 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.