Arrowstreet Capital Limited Partnership Purchases New Shares in Nexxen International Ltd. (NASDAQ:NEXN)

Arrowstreet Capital Limited Partnership bought a new stake in Nexxen International Ltd. (NASDAQ:NEXN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 145,339 shares of the company's stock, valued at approximately $1,456,000. Arrowstreet Capital Limited Partnership owned approximately 0.22% of Nexxen International at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEXN. EntryPoint Capital LLC bought a new stake in Nexxen International during the fourth quarter worth $149,000. Sei Investments Co. bought a new position in shares of Nexxen International in the 4th quarter valued at $127,000. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the 4th quarter valued at $110,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Nexxen International during the 4th quarter worth $289,000. Finally, Independent Advisor Alliance bought a new position in Nexxen International in the fourth quarter valued at about $190,000. Institutional investors own 54.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Needham & Company LLC restated a "buy" rating and issued a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. Craig Hallum began coverage on Nexxen International in a research report on Thursday, April 10th. They issued a "buy" rating and a $15.00 price target on the stock. Canaccord Genuity Group assumed coverage on Nexxen International in a research report on Wednesday, March 26th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Scotiabank began coverage on shares of Nexxen International in a research report on Monday, March 31st. They set a "sector outperform" rating and a $17.00 target price for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Nexxen International has an average rating of "Moderate Buy" and an average target price of $16.75.

Nexxen International Stock Up 0.9 %

Shares of NEXN traded up $0.08 during trading hours on Thursday, hitting $8.93. The stock had a trading volume of 80,941 shares, compared to its average volume of 121,464. The firm has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $15.20. Nexxen International Ltd. has a 1-year low of $6.93 and a 1-year high of $21.88. 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 firm has a market capitalization of $566.38 million, a P/E ratio of 224.88 and a beta of 1.81.

Nexxen International announced that its board has initiated a stock repurchase plan on Wednesday, March 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is 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.