Brokerages Set Nexxen International Ltd. (NASDAQ:NEXN) PT at $17.00

Shares of Nexxen International Ltd. (NASDAQ:NEXN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $17.00.

A number of research firms have recently weighed in on NEXN. Royal Bank of Canada raised their price target on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Nexxen International in a research note on Thursday, March 6th. Scotiabank started coverage on Nexxen International in a report on Monday. They issued a “sector outperform” rating and a $17.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Finally, Canaccord Genuity Group started coverage on Nexxen International in a research report on Wednesday, March 26th. They set a “buy” rating and a $12.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC bought a new stake in Nexxen International during the 4th quarter worth about $69,000. GAMMA Investing LLC increased its position in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Nexxen International during the fourth quarter worth about $110,000. D.A. Davidson & CO. acquired a new stake in Nexxen International during the 4th quarter worth approximately $121,000. Finally, Jane Street Group LLC acquired a new position in Nexxen International in the 4th quarter worth $121,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Performance

Shares of NEXN stock opened at $8.51 on Wednesday. The firm has a market cap of $539.68 million, a P/E ratio of 212.75 and a beta of 1.91. The stock’s 50-day moving average is $12.07 and its two-hundred day moving average is $15.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88.

Nexxen International announced that its board has approved a stock buyback plan on Wednesday, March 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.