Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 345,800 shares, a decline of 18.4% from the February 28th total of 423,600 shares. Based on an average daily volume of 201,900 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the company's stock are short sold.

Institutional Investors Weigh In On Nexxen International

Several large investors have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in Nexxen International by 471.0% during 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 during the period. Renaissance Technologies LLC grew its stake in shares of Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company's stock worth $4,346,000 after acquiring an additional 276,600 shares during the period. Rice Hall James & Associates LLC increased its holdings 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. Arrowstreet Capital Limited Partnership bought a new stake in Nexxen International in the 4th quarter valued at about $1,456,000. Finally, Navellier & Associates Inc. purchased a new stake in Nexxen International during the fourth quarter valued at about $984,000. Hedge funds and other institutional investors own 54.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group began coverage on Nexxen International in a report on Wednesday, March 26th. They set a "buy" rating and a $12.00 price target for the company. Royal Bank of Canada upped their target price on shares of Nexxen International from $22.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Needham & Company LLC restated a "buy" rating and set a $12.00 price target on shares of Nexxen International in a report on Thursday, March 6th. Finally, Scotiabank assumed coverage on shares of Nexxen International in a research note on Monday, March 31st. They issued a "sector outperform" rating and a $17.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Nexxen International Stock Performance

NEXN traded down $0.58 during trading on Friday, hitting $7.73. 323,647 shares of the company traded hands, compared to its average volume of 109,438. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The stock's fifty day moving average is $11.40 and its 200 day moving average is $15.72. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a market cap of $490.21 million, a P/E ratio of 193.25 and a beta of 1.91.

Nexxen International declared that its board has authorized a share buyback plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are 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.