Nexxen International (NASDAQ:NEXN) Research Coverage Started at Craig Hallum

Craig Hallum assumed coverage on shares of Nexxen International (NASDAQ:NEXN) in a research report released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $15.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Royal Bank of Canada raised their target price on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $12.00 price target on shares of Nexxen International in a research report on Thursday, March 6th. Canaccord Genuity Group initiated coverage on Nexxen International in a research report on Wednesday, March 26th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Scotiabank assumed coverage on Nexxen International in a research note on Monday, March 31st. They set a “sector outperform” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nexxen International presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.75.

Nexxen International Stock Performance

Shares of NEXN opened at $8.65 on Thursday. The company has a 50-day moving average of $9.85 and a two-hundred day moving average of $15.35. The stock has a market cap of $548.56 million, a price-to-earnings ratio of 216.25 and a beta of 1.81. 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 one year low of $6.93 and a one year high of $21.88.

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

Institutional Inflows and Outflows

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

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.