Renaissance Technologies LLC Invests $810,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Renaissance Technologies LLC purchased a new position in Nexxen International Ltd. (NASDAQ:NEXN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 144,100 shares of the company's stock, valued at approximately $810,000. Renaissance Technologies LLC owned 0.21% of Nexxen International as of its most recent filing with the Securities and Exchange Commission.

Separately, Rock Point Advisors LLC purchased a new stake in shares of Nexxen International in the 2nd quarter worth approximately $3,562,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEXN. Lake Street Capital increased their target price on shares of Nexxen International from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Royal Bank of Canada lifted their target price on shares of Nexxen International from $9.00 to $11.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. JMP Securities restated a "market outperform" rating and set a $11.00 price target on shares of Nexxen International in a research report on Friday, June 14th. Finally, Needham & Company LLC boosted their price target on shares of Nexxen International from $6.50 to $8.50 and gave the company a "buy" rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.10.

Nexxen International Trading Up 0.5 %

Shares of NEXN traded up $0.04 during mid-day trading on Tuesday, hitting $7.72. The company had a trading volume of 98,211 shares, compared to its average volume of 62,492. The business's 50-day simple moving average is $7.48 and its 200-day simple moving average is $6.43. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.04. Nexxen International Ltd. has a 1-year low of $3.15 and a 1-year high of $8.45. The stock has a market cap of $533.75 million, a PE ratio of -59.31 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN - Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $88.58 million for the quarter, compared to analyst estimates of $85.75 million. Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. During the same period last year, the firm earned $0.03 earnings per share. Sell-side analysts forecast that Nexxen International Ltd. will post 0.56 earnings per share for the current year.

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.