Nexxen International’s (NEXN) Buy Rating Reaffirmed at BTIG Research

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They currently have a $13.00 price objective on the stock. BTIG Research‘s target price points to a potential upside of 44.77% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Rosenblatt Securities reissued a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research report on Thursday, August 13th. Needham & Company LLC increased their price target on Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Craig Hallum raised Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, July 9th. Scotiabank upped their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 13th. Finally, Zacks Research lowered shares of Nexxen International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. 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 stock has an average rating of “Moderate Buy” and an average price target of $12.89.

Nexxen International Price Performance

NASDAQ NEXN traded down $0.11 during trading hours on Wednesday, reaching $8.98. The company’s stock had a trading volume of 118,045 shares, compared to its average volume of 381,983. The firm has a market capitalization of $511.41 million, a price-to-earnings ratio of 40.87 and a beta of 1.61. The company’s 50-day moving average is $9.39 and its two-hundred day moving average is $8.89. 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 has a 1-year low of $5.60 and a 1-year high of $11.30.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $93.09 million. On average, equities analysts predict that Nexxen International will post 0.73 EPS for the current year.

Insider Transactions at Nexxen International

In related news, Director Daniel Kerstein sold 11,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the sale, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sagi Niri sold 17,578 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total value of $184,744.78. Following the transaction, the chief financial officer 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On Nexxen International

Large investors have recently modified their holdings of the business. SteelPeak Wealth LLC bought a new position in shares of Nexxen International during the third quarter worth about $188,000. State of Alaska Department of Revenue raised its stake in Nexxen International by 20.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock worth $108,000 after purchasing an additional 2,048 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Nexxen International in the 2nd quarter worth about $826,000. Brandywine Trust Co. acquired a new stake in Nexxen International in the 2nd quarter worth about $143,000. Finally, Pinnacle Holdings LLC acquired a new stake in Nexxen International in the 2nd quarter worth about $42,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Company Profile

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.