Nexxen International (NASDAQ:NEXN) Given New $16.00 Price Target at Rosenblatt Securities

Nexxen International (NASDAQ:NEXN) had its price objective boosted by Rosenblatt Securities from $15.00 to $16.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

NEXN has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. Canaccord Genuity Group increased their price target on shares of Nexxen International from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada upped their price target on Nexxen International from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday. Finally, 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 target price for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Nexxen International Stock Performance

NASDAQ NEXN opened at $11.60 on Thursday. 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’s fifty day moving average is $8.95 and its two-hundred day moving average is $14.40. The firm has a market capitalization of $735.64 million, a P/E ratio of 290.00 and a beta of 1.78. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NEXN. JB Capital Partners LP increased its stake in Nexxen International by 2,490.0% in the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock valued at $29,163,000 after purchasing an additional 3,357,707 shares during the last quarter. Marshall Wace LLP raised its position in Nexxen International by 471.0% in the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock valued at $3,837,000 after purchasing an additional 315,864 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after purchasing an additional 276,600 shares during the period. Rice Hall James & Associates LLC grew its position in Nexxen International by 86.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after purchasing an additional 262,961 shares during the last quarter. Finally, Rock Point Advisors LLC raised its holdings in shares of Nexxen International by 32.7% in the first quarter. Rock Point Advisors LLC now owns 643,492 shares of the company’s stock valued at $5,373,000 after buying an additional 158,397 shares during the last quarter. Hedge funds and other 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.