Nexxen International (NASDAQ:NEXN) Raised to Strong-Buy at Zacks Research

Nexxen International (NASDAQ:NEXN) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 target price on shares of Nexxen International in a report on Thursday, August 13th. Canaccord Genuity Group boosted their price objective 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. Raymond James Financial lifted their price objective on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada increased their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nexxen International has a consensus rating of “Buy” and an average price target of $12.89.

Nexxen International Price Performance

Shares of NASDAQ:NEXN opened at $10.17 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The stock has a market cap of $579.19 million, a PE ratio of 46.23 and a beta of 1.59. The company’s fifty day moving average is $9.83 and its 200 day moving average is $8.15. Nexxen International has a 52 week low of $5.60 and a 52 week high of $11.30.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%.The firm had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. Research analysts anticipate that Nexxen International will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Nexxen International

In other news, Director Daniel Yosef Kerstein sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $10.38, for a total value 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. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sagi Niri sold 17,578 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total value of $184,744.78. Following the completion of the sale, the chief financial officer owned 126,488 shares in the company, valued at approximately $1,329,388.88. The trade was a 12.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 269,468 shares of company stock worth $2,464,230 in the last 90 days.

Institutional Trading of Nexxen International

Several institutional investors and hedge funds have recently made changes to their positions in NEXN. Geode Capital Management LLC increased its position in Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after purchasing an additional 465,936 shares during the period. Rock Point Advisors LLC increased its holdings in Nexxen International by 42.5% during 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. BNP Paribas Financial Markets increased its holdings in Nexxen International by 354.1% during 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. Public Employees Retirement System of Ohio bought a new position in Nexxen International in the second quarter worth approximately $826,000. Finally, Rhumbline Advisers lifted its holdings in Nexxen International by 1,244.5% during the second quarter. Rhumbline Advisers now owns 59,926 shares of the company’s stock worth $624,000 after buying an additional 55,469 shares during the period. 54.24% of the stock is currently owned by institutional investors.

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.