Nexxen International Ltd. (NASDAQ:NEXN) Short Interest Update

Nexxen International Ltd. (NASDAQ:NEXN) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 345,800 shares, a decline of 18.4% from the February 28th total of 423,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 201,900 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Ratings Changes

A number of research firms recently issued reports on NEXN. Canaccord Genuity Group initiated coverage on shares of Nexxen International in a report on Wednesday, March 26th. They set a “buy” rating and a $12.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $12.00 price target on shares of Nexxen International in a research note on Thursday, March 6th. JMP Securities reissued a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada boosted their target price on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Scotiabank initiated coverage on Nexxen International in a research report on Monday. They set a “sector outperform” rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in shares of Nexxen International in the third quarter worth $123,000. Tidal Investments LLC raised its holdings in shares of Nexxen International by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after acquiring an additional 2,125 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after acquiring an additional 11,346 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in Nexxen International in the fourth quarter valued at approximately $69,000. 54.24% of the stock is owned by institutional investors.

Nexxen International Price Performance

Nexxen International stock opened at $8.35 on Tuesday. The firm has a market capitalization of $529.53 million, a P/E ratio of 208.75 and a beta of 1.91. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The business has a fifty day moving average price of $12.30 and a 200-day moving average price of $15.92.

Nexxen International announced that its board has authorized a share buyback program on Wednesday, March 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Nexxen International Company Profile

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.