Nexxen International (NASDAQ:NEXN) Director Daniel Yosef Kerstein Sells 11,000 Shares of Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Director Daniel Yosef Kerstein sold 11,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the sale, the director owned 34,678 shares in the company, valued at approximately $359,957.64. The trade was a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Nexxen International Stock Down 1.9%

NASDAQ NEXN opened at $10.05 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $8.03. Nexxen International Ltd. Sponsored ADR has a twelve month low of $5.60 and a twelve month high of $11.30. The stock has a market cap of $565.65 million, a PE ratio of 45.68 and a beta of 1.60.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $100.52 million for the quarter, compared to analyst estimates of $93.09 million. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. On average, research analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Rock Point Advisors LLC increased its position in shares of Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock worth $6,216,000 after purchasing an additional 283,295 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Nexxen International by 1,062.0% in the 2nd 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 last quarter. BNP Paribas Financial Markets grew its stake in shares of 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Nexxen International during the second quarter worth $826,000. Finally, Strs Ohio increased its holdings 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 last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. BTIG Research lifted their target price on Nexxen International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wall Street Zen upgraded Nexxen International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Needham & Company LLC lifted their price objective on Nexxen International from $10.50 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Scotiabank boosted their price objective on Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 13th. Finally, Canaccord Genuity Group upped their target price 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Nexxen International currently has an average rating of “Moderate Buy” and an average target price of $12.89.

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.