Nexxen International (NASDAQ:NEXN) Coverage Initiated at Rosenblatt Securities

Research analysts at Rosenblatt Securities assumed coverage on shares of Nexxen International (NASDAQ:NEXN) in a report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $15.00 price target on the stock. Rosenblatt Securities’ target price points to a potential upside of 54.64% from the company’s current price.

Several other equities research analysts also recently commented on NEXN. Canaccord Genuity Group assumed coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They set a “buy” rating and a $12.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research report on Monday, January 27th. Royal Bank of Canada lifted their target price on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Craig Hallum initiated coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Nexxen International in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating and eight have assigned 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 $16.56.

Nexxen International Stock Performance

NASDAQ NEXN opened at $9.70 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88. The company has a market capitalization of $615.14 million, a P/E ratio of 242.50 and a beta of 1.81. The firm has a 50-day moving average price of $8.30 and a two-hundred day moving average price of $14.84.

Nexxen International announced that its board has initiated a stock buyback program on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently made changes to their positions in NEXN. Tidal Investments LLC grew its position in Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after acquiring an additional 2,125 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after buying an additional 11,346 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Nexxen International by 2,021.9% in 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. Advisors Preferred LLC purchased a new stake in Nexxen International during the fourth quarter worth $69,000. Finally, D.A. Davidson & CO. purchased a new position in Nexxen International in the fourth quarter valued at about $121,000. Institutional investors own 54.24% of the company’s stock.

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.