Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives Average Recommendation of “Buy” from Brokerages

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.00.

A number of analysts have recently weighed in on NEXN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research note on Friday, August 22nd. Wall Street Zen lowered shares of Nexxen International from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System bought a new stake in shares of Nexxen International in the 2nd quarter worth approximately $25,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Nexxen International in the 2nd quarter worth approximately $90,000. New York State Common Retirement Fund bought a new stake in shares of Nexxen International in the 2nd quarter worth approximately $124,000. Jane Street Group LLC bought a new stake in shares of Nexxen International in the 4th quarter worth approximately $121,000. Finally, Bank of America Corp DE raised its holdings in shares of Nexxen International by 1,898.3% in the 4th quarter. Bank of America Corp DE now owns 15,107 shares of the company’s stock worth $151,000 after purchasing an additional 14,351 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Trading Down 1.4%

Shares of NASDAQ:NEXN opened at $9.23 on Wednesday. The company has a 50 day moving average of $9.94 and a 200-day moving average of $9.82. The firm has a market cap of $585.34 million, a P/E ratio of 14.65 and a beta of 1.74. Nexxen International has a twelve month low of $6.93 and a twelve month high of $12.60. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04.

Nexxen International announced that its board has approved a share repurchase program on Friday, August 15th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Nexxen International Company Profile

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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.