Insider Selling: Nexxen International (NASDAQ:NEXN) CFO Sells $475,340.04 in Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) CFO Sagi Niri sold 49,826 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.54, for a total value of $475,340.04. Following the completion of the sale, the chief financial officer directly owned 332,030 shares in the company, valued at approximately $3,167,566.20. The trade was a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, July 6th, Sagi Niri sold 199 shares of Nexxen International stock. The stock was sold at an average price of $9.54, for a total value of $1,898.46.
• On Tuesday, June 30th, Sagi Niri sold 6,183 shares of Nexxen International stock. The stock was sold at an average price of $9.13, for a total transaction of $56,450.79.
• On Monday, June 29th, Sagi Niri sold 68,886 shares of Nexxen International stock. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88.
• On Wednesday, June 17th, Sagi Niri sold 2,098 shares of Nexxen International stock. The shares were sold at an average price of $8.78, for a total value of $18,420.44.
• On Tuesday, June 16th, Sagi Niri sold 34,667 shares of Nexxen International stock. The shares were sold at an average price of $8.78, for a total value of $304,376.26.
• On Monday, June 15th, Sagi Niri sold 1,160 shares of Nexxen International stock. The stock was sold at an average price of $8.71, for a total value of $10,103.60.
• On Friday, June 12th, Sagi Niri sold 200 shares of Nexxen International stock. The stock was sold at an average price of $8.70, for a total value of $1,740.00.
• On Wednesday, June 10th, Sagi Niri sold 5,922 shares of Nexxen International stock. The stock was sold at an average price of $8.74, for a total value of $51,758.28.
• On Thursday, June 4th, Sagi Niri sold 13,164 shares of Nexxen International stock. The shares were sold at an average price of $8.54, for a total value of $112,420.56.
• On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The shares were sold at an average price of $8.58, for a total value of $8,811.66.

Nexxen International Trading Down 3.9%

Shares of NEXN opened at $9.02 on Thursday. Nexxen International Ltd. Sponsored ADR has a 52-week low of $5.60 and a 52-week 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. The firm’s fifty day moving average is $8.39 and its two-hundred day moving average is $7.19. The stock has a market cap of $507.65 million, a PE ratio of 30.07 and a beta of 1.62.

Nexxen International (NASDAQ:NEXN) last released its earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $86.84 million during the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. Research analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEXN shares. Needham & Company LLC boosted their target price on Nexxen International from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada increased their price target on Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. BTIG Research lifted their price objective on Nexxen International from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Scotiabank boosted their price objective on Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 17th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $16.00 target price on shares of Nexxen International in a report on Wednesday, June 17th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and a consensus price target of $11.17.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently modified their holdings of the business. Rock Point Advisors LLC raised its holdings in Nexxen International by 42.5% in the 4th 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. Strs Ohio boosted its stake in Nexxen International by 35.7% during the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after buying an additional 21,900 shares during the period. Rhumbline Advisers increased its position in shares of Nexxen International by 1,244.5% during the second quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock valued at $624,000 after acquiring an additional 55,469 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Nexxen International by 328.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 74,102 shares of the company’s stock valued at $485,000 after acquiring an additional 56,808 shares during the period. Finally, State of Tennessee Department of Treasury raised its stake in shares of Nexxen International by 470.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 32,874 shares of the company’s stock valued at $342,000 after acquiring an additional 27,110 shares during the period. 54.24% of the stock is 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.