Nexxen International Ltd. (NASDAQ:NEXN) Sees Significant Increase in Short Interest

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 93,800 shares, an increase of 80.7% from the January 31st total of 51,900 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 71,100 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On Nexxen International

Institutional investors and hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC increased its stake in Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company's stock worth $5,687,000 after acquiring an additional 262,961 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Nexxen International by 176.1% in the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after purchasing an additional 276,600 shares during the last quarter. Marshall Wace LLP raised its stake in Nexxen International by 471.0% in the fourth quarter. Marshall Wace LLP now owns 382,924 shares of the company's stock valued at $3,837,000 after purchasing an additional 315,864 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Nexxen International during the fourth quarter valued at approximately $1,456,000. Finally, Millennium Management LLC grew its stake in Nexxen International by 45.7% in the 4th quarter. Millennium Management LLC now owns 98,742 shares of the company's stock worth $989,000 after buying an additional 30,973 shares in the last quarter. Hedge funds and other institutional investors own 54.24% of the company's stock.

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Analyst Ratings Changes

NEXN has been the topic of several research reports. Needham & Company LLC boosted their target price on Nexxen International from $19.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $20.40.

Nexxen International Stock Performance

Shares of NASDAQ:NEXN traded up $2.08 during midday trading on Wednesday, reaching $9.50. 911,034 shares of the company traded hands, compared to its average volume of 73,761. The firm's fifty day moving average price is $16.99 and its two-hundred day moving average price is $16.89. The firm has a market capitalization of $612.99 million, a price-to-earnings ratio of 237.50 and a beta of 1.89. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 12 month low of $6.93 and a 12 month high of $21.88.

Nexxen International (NASDAQ:NEXN - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.13. Nexxen International had a net margin of 3.96% and a return on equity of 7.49%. On average, equities analysts expect that Nexxen International will post 0.67 earnings per share for the current year.

About Nexxen International

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.