Nexxen International (NASDAQ:NEXN) Sets New 1-Year High – Here’s What Happened

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) reached a new 52-week high during trading on Thursday . The stock traded as high as $10.75 and last traded at $10.75, with a volume of 204318 shares trading hands. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC raised their target price on Nexxen International from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Rosenblatt Securities reissued a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a report on Wednesday, June 17th. Raymond James Financial boosted their price target 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. Scotiabank raised their price objective on Nexxen International from $10.00 to $11.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. 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 data from MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Nexxen International Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $613.50 million, a price-to-earnings ratio of 36.33 and a beta of 1.60. The firm has a fifty day moving average of $9.40 and a 200 day moving average of $7.79.

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

Insider Activity

In other Nexxen International news, CFO Sagi Niri sold 17,578 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the sale, the chief financial officer owned 126,488 shares of the company’s stock, valued at $1,329,388.88. This trade represents a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 258,468 shares of company stock worth $2,350,050.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Rock Point Advisors LLC raised its position in Nexxen International by 42.5% during the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after acquiring an additional 283,295 shares during the last quarter. Strs Ohio boosted its stake in shares of Nexxen International by 35.7% during the 4th quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after purchasing an additional 21,900 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Nexxen International by 328.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock worth $485,000 after buying an additional 56,808 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in shares of Nexxen International during the third quarter worth about $168,000. Finally, State of Tennessee Department of Treasury raised its position in shares of Nexxen International by 470.3% in the second quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after buying an additional 27,110 shares during the last quarter. 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.