Nexxen International Ltd. (NASDAQ:NEXN) Given Consensus Rating of “Buy” by Analysts

Nexxen International Ltd. (NASDAQ:NEXN) has earned an average recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.33.

A number of brokerages recently weighed in on NEXN. 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 objective on the stock. Scotiabank started coverage on shares of Nexxen International in a research report on Monday, March 31st. They set a “sector outperform” rating and a $17.00 price target on the stock. Needham & Company LLC increased their price objective on shares of Nexxen International from $12.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Royal Bank of Canada boosted their target price on Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Finally, Rosenblatt Securities lifted their price target on Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Nexxen International

Several institutional investors and hedge funds have recently bought and sold shares of NEXN. Advisors Preferred LLC purchased a new stake in Nexxen International in the 4th quarter worth approximately $69,000. Virtu Financial LLC purchased a new stake in shares of Nexxen International during the fourth quarter worth $110,000. D.A. Davidson & CO. acquired a new stake in Nexxen International during the fourth quarter valued at $121,000. Jane Street Group LLC purchased a new position in Nexxen International in the fourth quarter valued at about $121,000. Finally, Sei Investments Co. acquired a new position in Nexxen International in the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Performance

Shares of NASDAQ NEXN opened at $11.26 on Thursday. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a market cap of $714.08 million, a PE ratio of 281.50 and a beta of 1.78. The stock has a 50 day simple moving average of $9.24 and a 200-day simple moving average of $14.26.

Nexxen International declared that its board has authorized a stock repurchase plan on Wednesday, March 5th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.