Insider Selling: Nexxen International (NASDAQ:NEXN) Director Sells $114,180.00 in Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Director Daniel Yosef Kerstein sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the transaction, the director owned 34,678 shares of the company’s stock, valued at $359,957.64. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nexxen International Stock Performance

NEXN traded down $0.10 during trading on Wednesday, reaching $10.14. 184,551 shares of the company were exchanged, compared to its average volume of 369,054. The stock has a market cap of $570.62 million, a P/E ratio of 46.06 and a beta of 1.59. The firm has a 50 day moving average of $9.69 and a 200 day moving average of $8.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. Nexxen International Ltd. Sponsored ADR has a 52 week low of $5.60 and a 52 week high of $11.30.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $100.52 million for the quarter, compared to analysts’ expectations of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. On average, sell-side analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rock Point Advisors LLC lifted its holdings in 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. Strs Ohio increased its stake in Nexxen International by 35.7% during the 4th quarter. Strs Ohio now owns 83,300 shares of the company’s stock valued at $545,000 after buying an additional 21,900 shares during the period. Jump Financial LLC acquired a new position in Nexxen International during the 4th quarter valued at about $95,000. FourThought Financial Partners LLC acquired a new position in Nexxen International during the 3rd quarter valued at about $168,000. Finally, Quantbot Technologies LP bought a new stake in shares of Nexxen International during the 3rd quarter worth about $43,000. Institutional investors own 54.24% of the company’s stock.

Wall Street Analysts Forecast Growth

NEXN has been the topic of several recent research reports. Weiss Ratings downgraded shares of Nexxen International from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Raymond James Financial upped their target price on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Craig Hallum raised Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Thursday, July 9th. Finally, BTIG Research boosted their price objective on Nexxen International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.89.

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.