Nexxen International Ltd. (NASDAQ:NEXN) Given Consensus Rating of “Moderate Buy” by Analysts

Nexxen International Ltd. (NASDAQ:NEXN) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $17.00.

NEXN has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada increased their target price on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Canaccord Genuity Group assumed coverage on Nexxen International in a research note on Wednesday. They issued a “buy” rating and a $12.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Nexxen International in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Nexxen International

A number of large investors have recently made changes to their positions in NEXN. Advisors Preferred LLC bought a new stake in Nexxen International in the fourth quarter worth about $69,000. GAMMA Investing LLC lifted its stake in shares of Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after acquiring an additional 8,027 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Nexxen International during the 4th quarter worth approximately $110,000. D.A. Davidson & CO. purchased a new position in Nexxen International during the 4th quarter valued at $121,000. Finally, Jane Street Group LLC bought a new position in Nexxen International in the 4th quarter valued at $121,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Stock Up 0.4 %

Shares of NASDAQ:NEXN traded up $0.03 on Wednesday, hitting $7.85. 43,422 shares of the company traded hands, compared to its average volume of 296,742. Nexxen International has a 52 week low of $4.83 and a 52 week high of $11.00. The stock has a 50 day simple moving average of $13.29 and a 200-day simple moving average of $16.11. The company has a market cap of $497.82 million, a PE ratio of 196.25 and a beta of 1.91. 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 announced that its Board of Directors has initiated a stock buyback program on Wednesday, March 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.