Nexxen International (NASDAQ:NEXN) Sees Strong Trading Volume - What's Next?

Shares of Nexxen International Ltd. (NASDAQ:NEXN - Get Free Report) saw an uptick in trading volume on Thursday . 63,420 shares were traded during trading, a decline of 14% from the previous session's volume of 74,038 shares.The stock last traded at $9.73 and had previously closed at $9.50.

Analyst Ratings Changes

A number of brokerages have issued reports on NEXN. JMP Securities reissued a "market outperform" rating and set a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Needham & Company LLC reissued a "buy" rating and set a $12.00 target price on shares of Nexxen International in a report on Thursday. Finally, Royal Bank of Canada boosted their target price on shares of Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Nexxen International Trading Down 6.4 %

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 stock's fifty day moving average price is $16.10 and its two-hundred day moving average price is $16.73. The company has a market capitalization of $521.29 million, a PE ratio of 205.50 and a beta of 1.91.

Nexxen International announced that its Board of Directors has approved a stock buyback program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

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Hedge Funds Weigh In On Nexxen International

Several large investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in shares of Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock valued at $386,000 after purchasing an additional 2,125 shares during the last quarter. Advisors Preferred LLC purchased a new position in shares of Nexxen International during the fourth quarter valued at approximately $69,000. GAMMA Investing LLC lifted its holdings in shares of Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company's stock valued at $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. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Nexxen International by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company's stock valued at $466,000 after purchasing an additional 11,346 shares during the last quarter. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.