Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires New Shares in Nexxen International Ltd. (NASDAQ:NEXN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Nexxen International Ltd. (NASDAQ:NEXN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,807 shares of the company’s stock, valued at approximately $289,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEXN. Advisors Preferred LLC purchased a new stake in Nexxen International during the 4th quarter valued at $69,000. GAMMA Investing LLC boosted its stake 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 period. D.A. Davidson & CO. bought a new position in shares of Nexxen International during the fourth quarter worth $121,000. Quadrature Capital Ltd purchased a new position in shares of Nexxen International during the third quarter valued at about $123,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Nexxen International in the fourth quarter worth about $190,000. 54.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEXN. Royal Bank of Canada lifted their price objective on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a research report on Thursday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a research report on Monday, January 27th. Finally, Canaccord Genuity Group initiated coverage on shares of Nexxen International in a research report on Wednesday. They set a “buy” rating and a $12.00 target price on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Nexxen International presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Nexxen International Trading Up 1.7 %

Shares of NEXN opened at $7.63 on Friday. The company’s fifty day simple moving average is $12.80 and its 200-day simple moving average is $15.99. The company has a market cap of $483.87 million, a P/E ratio of 190.75 and a beta of 1.91. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International Ltd. has a twelve month low of $6.93 and a twelve month high of $21.88.

Nexxen International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors 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.