Nexxen International (NASDAQ:NEXN) Now Covered by Scotiabank

Equities research analysts at Scotiabank started coverage on shares of Nexxen International (NASDAQ:NEXN) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “sector outperform” rating and a $17.00 price target on the stock. Scotiabank’s price target would indicate a potential upside of 123.10% from the stock’s current price.

Several other equities analysts also recently issued reports on NEXN. JMP Securities restated a “market outperform” rating and set a $22.00 price objective 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 research note on Thursday, March 6th. Canaccord Genuity Group started coverage on shares of Nexxen International in a research note on Wednesday, March 26th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Royal Bank of Canada upped their target price on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Nexxen International Trading Down 0.1 %

Shares of NASDAQ:NEXN opened at $7.62 on Monday. 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 firm has a market capitalization of $483.24 million, a P/E ratio of 190.50 and a beta of 1.91. The business’s 50-day moving average is $12.54 and its 200 day moving average is $15.96. Nexxen International has a 1 year low of $6.93 and a 1 year high of $21.88.

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 buy up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Nexxen International

A number of hedge funds have recently modified their holdings of the stock. Advisors Preferred LLC acquired a new position in Nexxen International in the fourth quarter valued at approximately $69,000. GAMMA Investing LLC increased its holdings in shares of Nexxen International by 2,021.9% during the 4th 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 in the last quarter. Virtu Financial LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at $110,000. D.A. Davidson & CO. purchased a new stake in Nexxen International during the fourth quarter worth $121,000. Finally, Jane Street Group LLC purchased a new stake in Nexxen International during the fourth quarter worth $121,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.