Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Stock Has Average Target Price of $12.89 According to Analysts

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.89.

A number of research firms have commented on NEXN. Royal Bank Of Canada upped their price target on Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Nexxen International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Scotiabank boosted 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. Rosenblatt Securities reissued a “buy” rating and set a $16.00 target price on shares of Nexxen International in a research note on Thursday, August 13th. Finally, Craig Hallum upgraded Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday, July 9th.

Insiders Place Their Bets

In other Nexxen International news, Director Daniel Kerstein sold 11,000 shares of the business’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 transaction, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Holdings LLC bought a new position in Nexxen International in the second quarter worth about $42,000. State of Alaska Department of Revenue lifted its holdings in Nexxen International by 20.4% in the third quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock worth $108,000 after buying an additional 2,048 shares during the period. Brandywine Trust Co. purchased a new stake in Nexxen International in the second quarter worth about $143,000. GAMMA Investing LLC boosted its position in Nexxen International by 69.5% during the 2nd quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after acquiring an additional 6,764 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in Nexxen International during the 3rd quarter valued at approximately $188,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Price Performance

NEXN stock opened at $8.55 on Thursday. The firm’s 50-day moving average price is $9.20 and its two-hundred day moving average price is $8.19. Nexxen International has a 12-month low of $5.60 and a 12-month high of $11.30. The stock has a market capitalization of $486.93 million, a price-to-earnings ratio of 38.87 and a beta of 1.60. 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 issued its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The firm had revenue of $100.52 million during the quarter, compared to the consensus estimate of $93.09 million. As a group, equities analysts predict that Nexxen International will post 0.73 earnings per share for the current year.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, agencies, publishers and media owners. Its platform is designed to support the planning, buying, selling and measurement of digital advertising across connected television (CTV), video, display, mobile and other digital media channels.

The company combines advertising technology, data and media capabilities to help brands reach audiences across premium digital inventory. Its products include tools for programmatic advertising, audience targeting, campaign management, supply-side monetization and measurement.