Insider Selling: Nexxen International (NASDAQ:NEXN) CFO Sells $158,983.20 in Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) CFO Sagi Niri sold 18,660 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $8.52, for a total value of $158,983.20. Following the sale, the chief financial officer owned 514,136 shares in the company, valued at approximately $4,380,438.72. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sagi Niri also recently made the following trade(s):

• On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The stock was sold at an average price of $8.58, for a total value of $8,811.66.
• On Monday, June 1st, Sagi Niri sold 33,757 shares of Nexxen International stock. The stock was sold at an average price of $8.63, for a total value of $291,322.91.
• On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The stock was sold at an average price of $8.50, for a total value of $12,631.00.

Nexxen International Stock Down 0.4%

NASDAQ NEXN opened at $8.53 on Friday. The firm has a market cap of $480.07 million, a PE ratio of 28.43 and a beta of 1.64. Nexxen International Ltd. Sponsored ADR has a one year low of $5.60 and a one year high of $11.59. The stock’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $6.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 EPS for the quarter. The business had revenue of $86.84 million for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. As a group, sell-side analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research decreased their price objective on Nexxen International from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Rosenblatt Securities increased their price objective on Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Needham & Company LLC increased their price objective on Nexxen International from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Scotiabank decreased their price objective on Nexxen International from $12.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Thursday, March 5th. Finally, Canaccord Genuity Group decreased their price objective on Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.69.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new position in shares of Nexxen International in the 2nd quarter valued at $25,000. Quantbot Technologies LP acquired a new position in shares of Nexxen International in the 3rd quarter valued at $43,000. New York State Common Retirement Fund acquired a new position in shares of Nexxen International in the 2nd quarter valued at $124,000. Jump Financial LLC acquired a new position in shares of Nexxen International in the 4th quarter valued at $95,000. Finally, FourThought Financial Partners LLC acquired a new position in shares of Nexxen International in the 3rd quarter valued at $168,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Nexxen International

Tremor International Ltd provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.