Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.00.
NEXN has been the subject of several recent analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Nexxen International in a research report on Monday, January 27th. Canaccord Genuity Group assumed coverage on Nexxen International in a report on Wednesday. They set a "buy" rating and a $12.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $12.00 target price on shares of Nexxen International in a research report on Thursday, March 6th. Finally, Royal Bank of Canada increased their target price on shares of Nexxen International from $22.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd.
Read Our Latest Stock Analysis on NEXN
Institutional Investors Weigh In On Nexxen International
Hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new position in shares of Nexxen International during the fourth quarter valued at $69,000. GAMMA Investing LLC lifted its holdings in 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 buying an additional 8,027 shares during the period. Virtu Financial LLC bought a new stake in shares of Nexxen International in the 4th quarter valued at about $110,000. D.A. Davidson & CO. bought a new stake in shares of Nexxen International in the 4th quarter valued at about $121,000. Finally, Jane Street Group LLC acquired a new stake in shares of Nexxen International in the fourth quarter valued at about $121,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
Nexxen International Price Performance
Shares of NEXN stock traded down $0.01 during trading on Wednesday, hitting $7.62. The company had a trading volume of 229,057 shares, compared to its average volume of 100,189. The stock's 50-day moving average price is $12.54 and its 200 day moving average price is $15.95. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $483.24 million, a P/E ratio of 190.50 and a beta of 1.91.
Nexxen International declared that its board has initiated a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Nexxen International Company Profile
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Get Free ReportNexxen 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.
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