Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Nexxen International (NASDAQ:NEXN) had its price objective increased by stock analysts at Raymond James Financial from $9.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 26.12% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on NEXN. BTIG Research increased their target price on shares of Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group dropped their target price on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Scotiabank increased their target price on shares of Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Needham & Company LLC increased their target price on shares of Nexxen International from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.17.

Nexxen International Price Performance

Shares of NEXN stock traded down $0.03 during mid-day trading on Wednesday, reaching $8.72. The company’s stock had a trading volume of 317,414 shares, compared to its average volume of 325,725. Nexxen International has a 1-year low of $5.60 and a 1-year high of $11.59. The company has a market cap of $490.87 million, a P/E ratio of 29.17 and a beta of 1.64. 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 firm’s 50-day moving average is $7.82 and its two-hundred day moving average is $6.93.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. The company had revenue of $86.84 million during the quarter. On average, research analysts predict that Nexxen International will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Sagi Niri sold 5,922 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $8.74, for a total value of $51,758.28. Following the transaction, the chief financial officer owned 495,050 shares of the company’s stock, valued at approximately $4,326,737. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 74,216 shares of company stock worth $637,668.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in shares of Nexxen International in the 2nd quarter valued at about $25,000. Quantbot Technologies LP bought a new position in shares of Nexxen International in the 3rd quarter valued at about $43,000. New York State Common Retirement Fund bought a new position in shares of Nexxen International in the 2nd quarter valued at about $124,000. Jump Financial LLC bought a new position in shares of Nexxen International in the 4th quarter valued at about $95,000. Finally, FourThought Financial Partners LLC bought a new position in Nexxen International during the 3rd quarter worth approximately $168,000. 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.