Nexxen International (NASDAQ:NEXN) Price Target Raised to $14.00

Nexxen International (NASDAQ:NEXN) had its target price lifted by equities researchers at Royal Bank Of Canada from $13.00 to $14.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 33.97% from the company’s current price.

NEXN has been the subject of several other research reports. Scotiabank lifted their price target 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. BTIG Research reiterated a “buy” rating and issued a $13.00 price objective on shares of Nexxen International in a research note on Wednesday, October 21st. 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. Canaccord Genuity Group raised their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.00.

Nexxen International Stock Up 2.4%

Shares of NEXN traded up $0.24 during trading hours on Friday, hitting $10.45. The company had a trading volume of 185,713 shares, compared to its average volume of 393,043. Nexxen International has a one year low of $5.60 and a one year high of $11.30. The company’s fifty day moving average price is $8.98 and its two-hundred day moving average price is $8.35. 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 $595.14 million, a PE ratio of 47.38 and a beta of 1.65.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $102.93 million for the quarter, compared to analyst estimates of $100.14 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. As a group, equities analysts forecast that Nexxen International will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nexxen International news, Director Daniel Kerstein sold 11,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the transaction, the director directly owned 34,678 shares in the company, valued at $359,957.64. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Nexxen International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in Nexxen International in the 3rd quarter valued at $406,000. CenterBook Partners LP bought a new stake in Nexxen International during the third quarter valued at $298,000. State of Wyoming boosted its position in shares of Nexxen International by 9.8% during the 3rd quarter. State of Wyoming now owns 21,497 shares of the company’s stock valued at $193,000 after purchasing an additional 1,924 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in Nexxen International during the third quarter worth approximately $188,000. Finally, State of Alaska Department of Revenue increased 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 purchasing an additional 2,048 shares in the last quarter. 54.24% of the stock is owned by institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. is an advertising technology company that connects advertisers and media owners through software for planning, buying, selling and measuring digital advertising. Its platform supports campaigns across connected television, online video and mobile channels. The company offers demand-side tools for advertisers, supply-side tools for publishers and media owners, and data solutions intended to help target and evaluate campaigns. Nexxen serves customers in multiple markets, including North America, Europe and Asia-Pacific.