O Shaughnessy Asset Management LLC Purchases New Position in Nexxen International Ltd. (NASDAQ:NEXN)

O Shaughnessy Asset Management LLC purchased a new stake in Nexxen International Ltd. (NASDAQ:NEXN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 59,661 shares of the company's stock, valued at approximately $598,000. O Shaughnessy Asset Management LLC owned 0.09% of Nexxen International as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NEXN. Advisors Preferred LLC acquired a new position in Nexxen International during the fourth quarter worth $69,000. GAMMA Investing LLC raised 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 valued at $84,000 after buying an additional 8,027 shares during the period. Virtu Financial LLC acquired a new stake in Nexxen International during the 4th quarter valued at $110,000. D.A. Davidson & CO. acquired a new stake in shares of Nexxen International during the 4th quarter worth about $121,000. Finally, Quadrature Capital Ltd acquired a new stake in Nexxen International during the third quarter worth approximately $123,000. Institutional investors own 54.24% of the company's stock.

Nexxen International Stock Performance

NEXN stock traded up $0.23 during midday trading on Tuesday, reaching $9.04. 87,287 shares of the company's stock traded hands, compared to its average volume of 119,525. Nexxen International Ltd. has a 52 week low of $6.93 and a 52 week high of $21.88. The company has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $15.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $573.35 million, a PE ratio of 226.40 and a beta of 1.81.

Nexxen International announced that its Board of Directors has initiated 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 reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective 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. Scotiabank assumed coverage on Nexxen International in a research note on Monday, March 31st. They set a "sector outperform" rating and a $17.00 target price for the company. JMP Securities reiterated a "market outperform" rating and issued a $22.00 price target on shares of Nexxen International in a research note on Monday, January 27th. Craig Hallum initiated coverage on shares of Nexxen International in a report on Thursday, April 10th. They set a "buy" rating and a $15.00 target price on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $12.00 price target on shares of Nexxen International in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Nexxen International currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

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.