Nexxen International’s (NEXN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Nexxen International (NASDAQ:NEXN) in a report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $12.00 target price on the stock.

A number of other equities research analysts also recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research report on Monday, January 27th. Royal Bank of Canada upped their target price on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Nexxen International Stock Performance

Nexxen International stock opened at $8.78 on Thursday. Nexxen International has a 1-year low of $6.93 and a 1-year high of $21.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $556.80 million, a PE ratio of 219.50 and a beta of 1.91. The firm’s 50 day simple moving average is $16.34 and its 200 day simple moving average is $16.76.

Nexxen International declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Nexxen International

A number of large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Nexxen International by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of Nexxen International in the 4th quarter worth approximately $69,000. GAMMA Investing LLC boosted its stake in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Nexxen International during the 4th quarter valued at $110,000. Finally, JPMorgan Chase & Co. raised its position in Nexxen International by 24.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after purchasing an additional 11,346 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

About Nexxen International

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.