Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Receives $10.69 Consensus PT from Brokerages

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.6875.

A number of brokerages recently commented on NEXN. Royal Bank Of Canada raised their target price on Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Scotiabank cut their price target on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating for the company in a report on Thursday, March 5th. Canaccord Genuity Group reduced their price target on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. BTIG Research decreased their price objective on Nexxen International from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Finally, Wall Street Zen raised Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd.

Nexxen International Stock Performance

Shares of NASDAQ NEXN opened at $8.40 on Monday. Nexxen International has a 12-month low of $5.60 and a 12-month high of $12.00. The firm has a market capitalization of $472.75 million, a price-to-earnings ratio of 28.00 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $7.34 and a 200 day moving average of $6.77.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. The business had revenue of $86.84 million for the quarter. On average, research analysts anticipate that Nexxen International will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Nexxen International

Several large investors have recently added to or reduced their stakes in NEXN. Rock Point Advisors LLC boosted its position in shares of Nexxen International by 42.5% in the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after purchasing an additional 283,295 shares during the period. Geode Capital Management LLC raised its position in shares of Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after purchasing an additional 465,936 shares during the period. ARK Investment Management LLC purchased a new position in shares of Nexxen International during the 3rd quarter valued at $1,798,000. BNP Paribas Financial Markets boosted its holdings in Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after buying an additional 95,219 shares during the period. Finally, Navellier & Associates Inc. boosted its holdings in Nexxen International by 4.0% in the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company’s stock worth $1,019,000 after buying an additional 4,200 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.