Nexxen International (NASDAQ:NEXN) to Repurchase $50.00 million in Stock

Nexxen International (NASDAQ:NEXN) declared that its board has approved a stock repurchase program on Wednesday, March 5th, RTT News reports. The company plans to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NEXN shares. Royal Bank of Canada boosted their price target 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 reiterated a “buy” rating and issued a $12.00 price target on shares of Nexxen International in a report on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Nexxen International Trading Down 2.7 %

Shares of NEXN stock opened at $8.78 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. Nexxen International has a 1 year low of $6.93 and a 1 year high of $21.88. The stock has a fifty day moving average of $16.34 and a two-hundred day moving average of $16.75. The firm has a market capitalization of $566.53 million, a PE ratio of 219.50 and a beta of 1.89.

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.