Nexxen International (NASDAQ:NEXN) Stock Keeps “Buy” Rating at BTIG Research

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research note issued on Wednesday, Benzinga reports. They currently have a $13.00 target price on the stock. BTIG Research‘s price objective would suggest a potential upside of 44.77% from the stock’s previous close.

Several other analysts have also recently weighed in on NEXN. Royal Bank Of Canada lifted their price target on Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research report on Thursday, August 13th. Scotiabank lifted their target price on Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 13th. Needham & Company LLC boosted their target price on shares of Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Zacks Research downgraded shares of Nexxen International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Nexxen International has an average rating of “Moderate Buy” and a consensus price target of $12.89.

Nexxen International Stock Down 1.2%

Shares of Nexxen International stock traded down $0.11 during trading hours on Wednesday, reaching $8.98. 288,591 shares of the company’s stock were exchanged, compared to its average volume of 382,867. The company has a 50 day moving average of $9.39 and a two-hundred day moving average of $8.89. Nexxen International has a fifty-two week low of $5.60 and a fifty-two week high of $11.30. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. The stock has a market cap of $511.41 million, a P/E ratio of 40.82 and a beta of 1.61.

Nexxen International (NASDAQ:NEXN) last issued its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The business had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. On average, sell-side analysts forecast that Nexxen International will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sagi Niri sold 17,578 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $10.51, for a total transaction of $184,744.78. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the sale, the director owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. The trade was a 24.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Hedge Funds Weigh In On Nexxen International

Several institutional investors have recently made changes to their positions in NEXN. SteelPeak Wealth LLC bought a new position in Nexxen International in the 3rd quarter valued at about $188,000. State of Alaska Department of Revenue raised its stake in shares of Nexxen International by 20.4% in the third quarter. State of Alaska Department of Revenue now owns 12,067 shares of the company’s stock worth $108,000 after purchasing an additional 2,048 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Nexxen International in the second quarter valued at approximately $826,000. Brandywine Trust Co. bought a new position in shares of Nexxen International in the second quarter valued at approximately $143,000. Finally, Pinnacle Holdings LLC purchased a new position in shares of Nexxen International during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Nexxen International

Nexxen International Ltd. (NASDAQ: NEXN) is a global advertising technology company that provides solutions for advertisers, agencies and media owners. Its platform supports the planning, buying, measurement and optimization of digital advertising campaigns across connected television (CTV), online video, display and audio channels.

The company combines programmatic advertising capabilities with data, audience intelligence and measurement tools designed to help marketers reach and understand consumers across devices and media environments.