Nexxen International (NASDAQ:NEXN) Now Covered by Analysts at Scotiabank

Scotiabank began coverage on shares of Nexxen International (NASDAQ:NEXN) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $17.00 price objective on the stock.

NEXN has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a research report on Thursday, March 6th. Canaccord Genuity Group began coverage on Nexxen International in a report on Wednesday, March 26th. They issued a “buy” rating and a $12.00 target price for the company. Royal Bank of Canada boosted their price target on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Nexxen International Trading Up 9.6 %

Shares of Nexxen International stock opened at $8.35 on Monday. 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 $529.53 million, a PE ratio of 208.75 and a beta of 1.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company’s fifty day moving average price is $12.30 and its two-hundred day moving average price is $15.92.

Nexxen International declared that its board has initiated a share buyback plan on Wednesday, March 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of Nexxen International by 4.6% during the third 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 position in Nexxen International in the 4th quarter worth approximately $69,000. GAMMA Investing LLC raised its position in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares during the last quarter. Virtu Financial LLC acquired a new position in Nexxen International during the 4th quarter worth $110,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Nexxen International by 24.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after buying an additional 11,346 shares during the period. 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.