Nexxen International (NASDAQ:NEXN) Earns Buy Rating from Needham & Company LLC

Nexxen International (NASDAQ:NEXN - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a report issued on Thursday, Marketbeat.com reports. They currently have a $12.00 price target on the stock. Needham & Company LLC's price objective would indicate a potential upside of 45.99% from the company's current price.

Several other brokerages also recently commented on NEXN. JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada upped 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Nexxen International Trading Down 6.4 %

NASDAQ NEXN traded down $0.56 on Thursday, hitting $8.22. 453,655 shares of the company were exchanged, compared to its average volume of 78,275. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88. The firm has a market capitalization of $521.29 million, a P/E ratio of 205.50 and a beta of 1.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The company's 50 day moving average price is $16.34 and its 200-day moving average price is $16.78.

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Nexxen International announced that its board has approved a share 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in shares of Nexxen International during the 3rd quarter worth about $123,000. Tidal Investments LLC lifted its holdings in Nexxen International by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company's stock worth $386,000 after purchasing an additional 2,125 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Nexxen International by 24.3% in the 3rd 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 period. GAMMA Investing LLC increased its position 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. Finally, Advisors Preferred LLC acquired a new stake in shares of Nexxen International during the fourth quarter worth $69,000. 54.24% of the stock is owned by institutional investors and hedge funds.

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.