Nexxen International Ltd. (NASDAQ:NEXN) Receives $17.00 Consensus Price Target from Brokerages

Nexxen International Ltd. (NASDAQ:NEXN) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.00.

A number of equities analysts have weighed in on NEXN shares. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Nexxen International in a research report on Thursday, March 6th. Canaccord Genuity Group initiated coverage on Nexxen International in a research report on Wednesday. They issued a “buy” rating and a $12.00 target price on the stock. Royal Bank of Canada raised their price target on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a research note on Monday, January 27th.

Nexxen International Price Performance

Nexxen International stock opened at $7.62 on Wednesday. The firm has a fifty day moving average of $12.54 and a 200-day moving average of $15.95. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 52-week low of $6.93 and a 52-week high of $21.88. The firm has a market capitalization of $483.24 million, a P/E ratio of 190.50 and a beta of 1.91.

Nexxen International announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NEXN. Rice Hall James & Associates LLC raised 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 purchasing an additional 262,961 shares in the last quarter. Renaissance Technologies LLC grew its position in Nexxen International by 176.1% in the fourth 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. Marshall Wace LLP increased its holdings in shares of Nexxen International by 471.0% in the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock valued at $3,837,000 after buying an additional 315,864 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Nexxen International during the 4th quarter valued at $1,456,000. Finally, Millennium Management LLC boosted its stake in shares of Nexxen International by 45.7% during the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company’s stock worth $989,000 after acquiring an additional 30,973 shares in the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.

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.