Needham & Company LLC Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its target price raised by Needham & Company LLC from $8.50 to $10.50 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 20.00% from the company’s current price.

NEXN has been the subject of several other research reports. Wall Street Zen raised Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada lifted their target price on Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Scotiabank reduced their price objective on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 5th. BTIG Research reduced 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, Rosenblatt Securities lifted their target price on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and an average price target of $11.06.

Nexxen International Stock Performance

Nexxen International stock opened at $8.75 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average of $7.82 and a two-hundred day moving average of $6.93. The company has a market capitalization of $492.45 million, a price-to-earnings ratio of 29.17 and a beta of 1.64. Nexxen International has a fifty-two week low of $5.60 and a fifty-two week high of $11.59.

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. The company had revenue of $86.84 million during the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. On average, analysts anticipate that Nexxen International will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Nexxen International news, CFO Sagi Niri sold 33,757 shares of Nexxen International stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.63, for a total value of $291,322.91. Following the completion of the transaction, the chief financial officer directly owned 533,823 shares in the company, valued at $4,606,892.49. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 74,216 shares of company stock valued at $637,668 in the last three months.

Hedge Funds Weigh In On Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System acquired a new position in shares of Nexxen International during the second quarter worth approximately $25,000. Quantbot Technologies LP bought a new position in shares of Nexxen International in the third quarter valued at $43,000. New York State Common Retirement Fund bought a new position in shares of Nexxen International in the second quarter valued at $124,000. Jump Financial LLC acquired a new stake in Nexxen International during the 4th quarter valued at $95,000. Finally, FourThought Financial Partners LLC acquired a new stake in Nexxen International during the 3rd quarter valued at $168,000. 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. 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.