Nexxen International (NASDAQ:NEXN) Given Buy Rating at BTIG Research

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. BTIG Research‘s price objective indicates a potential upside of 44.69% from the company’s previous close.

NEXN has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Canaccord Genuity Group upped their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research note on Thursday, August 13th. Scotiabank increased their target price on Nexxen International from $11.00 to $13.00 and gave the company a “sector outperform” rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price objective on Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.89.

Nexxen International Stock Down 1.2%

NEXN traded down $0.11 during trading on Wednesday, reaching $8.99. The stock had a trading volume of 125,453 shares, compared to its average volume of 382,022. The stock’s 50 day moving average is $9.39 and its two-hundred day moving average is $8.89. Nexxen International has a one year low of $5.60 and a one year high of $11.30. The company has a market capitalization of $511.70 million, a price-to-earnings ratio of 40.84 and a beta of 1.61. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05.

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

Insider Transactions at Nexxen International

In other Nexxen International news, Director Daniel Kerstein sold 11,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the completion of the sale, the director owned 34,678 shares in the company, valued at $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sagi Niri sold 17,578 shares of the 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 of the company’s stock, valued at approximately $1,329,388.88. This trade represents a 12.20% decrease in their ownership of the stock. 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NEXN. Pinnacle Holdings LLC purchased a new stake in shares of Nexxen International during the second quarter worth about $42,000. State of Alaska Department of Revenue raised its stake in Nexxen International by 20.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock valued at $108,000 after purchasing an additional 2,048 shares during the period. Brandywine Trust Co. bought a new stake in Nexxen International during the 2nd quarter valued at approximately $143,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 6,764 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in Nexxen International in the 3rd quarter worth approximately $188,000. Institutional investors own 54.24% of the company’s stock.

About Nexxen International

Nexxen International Ltd. (NASDAQ: NEXN) is a global advertising technology company that provides solutions for advertisers, agencies and media owners. Its platform supports the planning, buying, measurement and optimization of digital advertising campaigns across connected television (CTV), online video, display and audio channels.

The company combines programmatic advertising capabilities with data, audience intelligence and measurement tools designed to help marketers reach and understand consumers across devices and media environments.