Nexxen International (NASDAQ:NEXN - Get Free Report) announced that its board has authorized a stock buyback plan on Wednesday, March 5th, RTT News reports. The company plans to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Nexxen International Price Performance
Shares of NEXN stock traded down $0.24 during trading hours on Friday, reaching $8.78. The company had a trading volume of 414,075 shares, compared to its average volume of 76,768. 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 stock has a fifty day moving average of $16.34 and a 200-day moving average of $16.76. The company has a market capitalization of $556.80 million, a price-to-earnings ratio of 219.50 and a beta of 1.91. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on NEXN shares. Royal Bank of Canada boosted their price objective on Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.00 price target on shares of Nexxen International in a report on Thursday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.
View Our Latest Analysis on NEXN
About Nexxen International
(
Get Free Report)
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.
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