Renaissance Technologies LLC Boosts Stock Position in Nexxen International Ltd. (NASDAQ:NEXN)

Renaissance Technologies LLC increased its stake in shares of Nexxen International Ltd. (NASDAQ:NEXN - Free Report) by 176.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 433,700 shares of the company's stock after acquiring an additional 276,600 shares during the quarter. Renaissance Technologies LLC owned about 0.67% of Nexxen International worth $4,346,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Advisors Preferred LLC bought a new stake in shares of Nexxen International in the 4th quarter valued at approximately $69,000. GAMMA Investing LLC lifted its stake in Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock worth $84,000 after purchasing an additional 8,027 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Nexxen International during the fourth quarter valued at approximately $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International during the fourth quarter valued at approximately $121,000. Finally, Sei Investments Co. purchased a new stake in shares of Nexxen International in the fourth quarter worth approximately $127,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NEXN shares. 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 target on the stock. Royal Bank of Canada lifted their target price on Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. JMP Securities reissued a "market outperform" rating and set a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. Scotiabank started coverage on shares of Nexxen International in a research note on Monday, March 31st. They set a "sector outperform" rating and a $17.00 price objective for the company. Finally, Craig Hallum initiated coverage on Nexxen International in a research note on Thursday, April 10th. They issued a "buy" rating and a $15.00 price target for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.75.

Nexxen International Stock Performance

NASDAQ NEXN traded up $0.28 during mid-day trading on Friday, reaching $9.57. 305,244 shares of the stock were exchanged, compared to its average volume of 129,536. The business's 50 day moving average is $8.32 and its 200-day moving average is $14.93. The company has a market capitalization of $606.90 million, a P/E ratio of 238.38 and a beta of 1.81. 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 quick ratio of 1.43 and a current ratio of 1.43.

Nexxen International announced that its board has approved a stock buyback program on Wednesday, March 5th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

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.