BTIG Research Issues Positive Forecast for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its price objective hoisted by equities research analysts at BTIG Research from $9.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 14.29% from the company’s current price.

A number of other equities analysts have also commented on NEXN. Scotiabank reduced their price target on shares of 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. Canaccord Genuity Group reduced their price target on shares of Nexxen International from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Nexxen International from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Needham & Company LLC boosted their price target on shares of Nexxen International from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities boosted their price target on shares of Nexxen International from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $11.06.

Nexxen International Stock Performance

NASDAQ NEXN opened at $8.75 on Tuesday. The stock has a market cap of $492.45 million, a P/E ratio of 29.17 and a beta of 1.64. The company’s 50-day simple moving average is $7.82 and its 200 day simple moving average is $6.93. Nexxen International has a twelve month low of $5.60 and a twelve month high of $11.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04.

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

Insider Activity

In other news, CFO Sagi Niri sold 33,757 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.63, for a total transaction of $291,322.91. Following the transaction, the chief financial officer directly owned 533,823 shares in the company, valued at approximately $4,606,892.49. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,216 shares of company stock worth $637,668 in the last quarter.

Hedge Funds Weigh In On Nexxen International

A number of large investors have recently modified their holdings of NEXN. Rock Point Advisors LLC lifted its holdings in Nexxen International by 42.5% in the fourth quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after buying an additional 283,295 shares during the period. Geode Capital Management LLC lifted its holdings in Nexxen International by 1,062.0% in the second quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after buying an additional 465,936 shares during the period. ARK Investment Management LLC acquired a new position in Nexxen International in the third quarter valued at approximately $1,798,000. BNP Paribas Financial Markets lifted its holdings in Nexxen International by 354.1% in the second quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock valued at $1,271,000 after buying an additional 95,219 shares during the period. Finally, Strs Ohio lifted its holdings in Nexxen International by 35.7% in the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock valued at $545,000 after buying an additional 21,900 shares during the period. 54.24% of the stock is currently owned by institutional investors and hedge funds.

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.