BTIG Research Issues Pessimistic Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its target price decreased by BTIG Research from $13.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 55.52% from the company’s previous close.

NEXN has been the subject of several other research reports. Craig Hallum lowered shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Needham & Company LLC lowered their price target on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Friday, August 22nd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and a consensus price target of $12.60.

Nexxen International Stock Up 1.7%

NEXN opened at $6.43 on Thursday. Nexxen International has a 1 year low of $6.08 and a 1 year high of $12.60. The firm has a 50 day moving average price of $8.69 and a 200 day moving average price of $9.80. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $407.79 million, a PE ratio of 10.72 and a beta of 1.70.

Nexxen International announced that its board has initiated a stock buyback program on Friday, August 15th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Nexxen International

Several large investors have recently modified their holdings of the business. California State Teachers Retirement System purchased a new stake in shares of Nexxen International during the second quarter worth about $25,000. Quantbot Technologies LP purchased a new position in Nexxen International in the third quarter valued at about $43,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Nexxen International during the 2nd quarter valued at approximately $90,000. SG Americas Securities LLC purchased a new stake in Nexxen International during the 3rd quarter worth approximately $102,000. Finally, New York State Common Retirement Fund purchased a new stake in Nexxen International during the 2nd quarter worth approximately $124,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.