Nexxen International (NASDAQ:NEXN) Stock Price Expected to Rise, Scotiabank Analyst Says

Nexxen International (NASDAQ:NEXN) had its price target increased by stock analysts at Scotiabank from $10.00 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 25.41% from the stock’s current price.

NEXN has been the subject of a number of other reports. Needham & Company LLC boosted their price target on Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday. Royal Bank Of Canada upped their price objective on Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. BTIG Research upped their price objective on Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group lowered their price objective on Nexxen International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.19.

Nexxen International Stock Performance

Shares of NASDAQ NEXN traded up $0.02 during trading on Wednesday, reaching $8.77. The stock had a trading volume of 124,722 shares, compared to its average volume of 324,195. Nexxen International has a one year low of $5.60 and a one year high of $11.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $493.63 million, a PE ratio of 29.36 and a beta of 1.64. The firm’s 50 day moving average price is $7.82 and its two-hundred day moving average price is $6.93.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%.The business had revenue of $86.84 million during the quarter. On average, research analysts forecast that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sagi Niri sold 33,757 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.63, for a total transaction of $291,322.91. Following the completion of the transaction, the chief financial officer directly owned 533,823 shares in the company, valued at $4,606,892.49. This represents a 5.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 74,216 shares of company stock worth $637,668.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NEXN. Jump Financial LLC acquired a new position in Nexxen International during the 4th quarter worth $95,000. Public Employees Retirement System of Ohio boosted its position in Nexxen International by 328.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock worth $485,000 after acquiring an additional 56,808 shares during the period. Legato Capital Management LLC boosted its position in Nexxen International by 23.8% during the 4th quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock worth $164,000 after acquiring an additional 4,815 shares during the period. Rock Point Advisors LLC boosted its position in Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after acquiring an additional 283,295 shares during the period. Finally, Strs Ohio boosted its position in Nexxen International by 35.7% during the 4th quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after acquiring an additional 21,900 shares during the period. 54.24% of the stock is currently owned by institutional investors.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. 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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.