Nexxen International’s (NEXN) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Nexxen International (NASDAQ:NEXN) in a report issued on Wednesday,Benzinga reports. BTIG Research currently has a $13.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Nexxen International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd. Craig Hallum upgraded shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Needham & Company LLC lifted their price target on shares of Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Canaccord Genuity Group boosted their price target on shares of Nexxen International from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Nexxen International Price Performance

Shares of NEXN opened at $8.88 on Wednesday. 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 has a 1 year low of $5.60 and a 1 year high of $11.30. The stock has a market cap of $505.72 million, a P/E ratio of 16.16 and a beta of 1.61. The stock’s 50-day moving average price is $9.29 and its two-hundred day moving average price is $8.92.

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, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. On average, equities analysts predict that Nexxen International will post 0.73 earnings per share for the current year.

Insider Buying and Selling at Nexxen International

In related news, Director Daniel Kerstein sold 11,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sagi Niri sold 17,578 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total value of $184,744.78. Following the transaction, the chief financial officer owned 126,488 shares of the company’s stock, valued at approximately $1,329,388.88. This trade represents a 12.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Nexxen International during the 2nd quarter worth about $826,000. SteelPeak Wealth LLC bought a new position in shares of Nexxen International in the 3rd quarter valued at about $188,000. Brandywine Trust Co. bought a new position in shares of Nexxen International in the 2nd quarter valued at about $143,000. GAMMA Investing LLC increased its position in shares of Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after acquiring an additional 6,764 shares during the last quarter. Finally, Pinnacle Holdings LLC acquired a new stake in shares of Nexxen International in the second quarter valued at about $42,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.