Nexxen International (NASDAQ:NEXN) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Nexxen International (NASDAQ:NEXN) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently commented on NEXN. Wall Street Zen raised shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. Canaccord Genuity Group upped their price target on shares of Nexxen International from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Needham & Company LLC increased their price target on shares of Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Craig Hallum raised shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $8.63 on Tuesday. Nexxen International has a 12 month low of $5.60 and a 12 month high of $11.30. The firm has a market capitalization of $491.48 million, a price-to-earnings ratio of 39.23 and a beta of 1.60. The business’s 50 day simple moving average is $9.92 and its 200-day simple moving average is $8.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%. As a group, equities analysts forecast that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Nexxen International

In related news, Director Daniel Kerstein sold 11,000 shares of Nexxen International stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the sale, the director owned 34,678 shares in the company, valued at approximately $359,957.64. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sagi Niri sold 17,578 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the transaction, the chief financial officer directly owned 126,488 shares of the company’s stock, valued at $1,329,388.88. The trade was a 12.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 157,327 shares of company stock valued at $1,493,662.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Nexxen International during the second quarter valued at approximately $826,000. Brandywine Trust Co. acquired a new stake in Nexxen International during the second quarter worth approximately $143,000. GAMMA Investing LLC grew its stake in Nexxen International by 69.5% in the 2nd quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock worth $149,000 after acquiring an additional 6,764 shares during the period. Legato Capital Management LLC grew its stake in Nexxen International by 23.8% in 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. Finally, Pinnacle Holdings LLC acquired a new position in Nexxen International in the 2nd quarter valued at $42,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, advertising agencies, publishers and media owners. Its platform supports the planning, buying, delivery and measurement of digital advertising campaigns across connected television, streaming video, online video, display, mobile and other digital media channels.

The company offers data-driven audience targeting, programmatic media buying, campaign optimization, creative and interactive advertising formats, and measurement and attribution services.