Rosenblatt Securities Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its price objective upped by Rosenblatt Securities from $15.00 to $16.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

NEXN has been the topic of a number of other research reports. Raymond James raised Nexxen International from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Monday, May 5th. Craig Hallum began coverage on shares of Nexxen International in a research note on Thursday, April 10th. They set a “buy” rating and a $15.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Nexxen International from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank assumed coverage on Nexxen International in a research note on Monday, March 31st. They set a “sector outperform” rating and a $17.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Nexxen International has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Nexxen International Trading Down 0.2%

Shares of Nexxen International stock opened at $11.60 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $8.95 and its 200-day simple moving average is $14.40. Nexxen International has a 52-week low of $6.93 and a 52-week high of $21.88. The firm has a market cap of $735.64 million, a price-to-earnings ratio of 290.00 and a beta of 1.78.

Nexxen International declared that its board has authorized a share buyback program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Nexxen International

Large investors have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in Nexxen International in the 4th quarter valued at about $69,000. Virtu Financial LLC purchased a new stake in shares of Nexxen International during the fourth quarter worth about $110,000. D.A. Davidson & CO. purchased a new stake in shares of Nexxen International during the fourth quarter worth about $121,000. Jane Street Group LLC acquired a new position in shares of Nexxen International in the fourth quarter valued at approximately $121,000. Finally, Sei Investments Co. purchased a new position in shares of Nexxen International during the fourth quarter valued at approximately $127,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

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.