Nexxen International (NASDAQ:NEXN) Price Target Raised to $13.00

Nexxen International (NASDAQ:NEXN) had its target price upped by research analysts at BTIG Research from $10.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 20.59% from the stock’s current price.

A number of other equities analysts have also commented on NEXN. Needham & Company LLC increased their price target on Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada upped their price objective on Nexxen International from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Scotiabank increased their target price on Nexxen International from $10.00 to $11.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Nexxen International from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Raymond James Financial boosted their price target on shares of Nexxen International from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nexxen International has an average rating of “Moderate Buy” and a consensus price target of $12.22.

Nexxen International Price Performance

NEXN stock traded up $0.30 during mid-day trading on Wednesday, hitting $10.78. The company had a trading volume of 564,418 shares, compared to its average volume of 363,858. The company has a market capitalization of $606.70 million, a price-to-earnings ratio of 35.93 and a beta of 1.60. Nexxen International has a 12-month low of $5.60 and a 12-month high of $11.13. 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 company has a 50-day moving average price of $9.48 and a 200 day moving average price of $7.86.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $100.52 million during the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. On average, research analysts anticipate that Nexxen International will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other Nexxen International news, CFO Sagi Niri sold 17,578 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the sale, the chief financial officer directly owned 126,488 shares in the company, valued at $1,329,388.88. This represents a 12.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 258,468 shares of company stock worth $2,350,050 over the last quarter.

Hedge Funds Weigh In On Nexxen International

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position 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 worth $5,307,000 after buying an additional 465,936 shares during the last quarter. Rhumbline Advisers increased its position in 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. New York State Common Retirement Fund purchased a new stake in shares of Nexxen International in the second quarter valued at $124,000. California State Teachers Retirement System purchased a new stake in shares of Nexxen International in the second quarter valued at $25,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Nexxen International by 354.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company’s stock worth $1,271,000 after acquiring an additional 95,219 shares during the last quarter. Institutional investors own 54.24% of the company’s stock.

Nexxen International Company Profile

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.