Nexxen International (NASDAQ:NEXN) Stock Rating Lowered by Zacks Research

Nexxen International (NASDAQ:NEXN) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

NEXN has been the subject of a number of other reports. Canaccord Genuity Group increased their target price on Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a report on Thursday, August 13th. BTIG Research increased their price objective on shares of Nexxen International from $10.00 to $13.00 and gave the stock 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 report on Thursday, July 9th. Nine equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $12.89.

Nexxen International Stock Performance

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

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

Insider Activity at Nexxen International

In other news, Director Daniel Kerstein sold 11,000 shares of Nexxen International stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the sale, the director directly owned 34,678 shares in the company, valued at $359,957.64. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sagi Niri sold 17,578 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of the sale, the chief financial officer directly owned 126,488 shares in the company, valued at approximately $1,329,388.88. This represents a 12.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,327 shares of company stock worth $1,493,662 in the last 90 days.

Institutional Investors Weigh In On Nexxen International

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

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.