Brokerages Set Nexxen International Ltd. (NASDAQ:NEXN) Target Price at $17.00

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.

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

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.