Nexxen International (NASDAQ:NEXN) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group assumed coverage on shares of Nexxen International (NASDAQ:NEXN) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

NEXN has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of Nexxen International in a report on Thursday, March 6th. Royal Bank of Canada raised their target price on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Nexxen International Stock Down 0.1 %

Shares of NASDAQ:NEXN opened at $7.62 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The firm has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $15.95. The company has a market capitalization of $483.24 million, a PE ratio of 190.50 and a beta of 1.91. Nexxen International has a twelve month low of $6.93 and a twelve month high of $21.88.

Nexxen International declared that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently added to or reduced their stakes in NEXN. Tidal Investments LLC boosted its stake in shares of Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after buying an additional 2,125 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Nexxen International in the 4th quarter valued at about $69,000. GAMMA Investing LLC lifted its stake in shares of Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. Virtu Financial LLC purchased a new stake in Nexxen International during the fourth quarter worth about $110,000. Finally, JPMorgan Chase & Co. grew its position in Nexxen International by 24.3% during the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after buying an additional 11,346 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.

Nexxen International Company Profile

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.