Nexxen International (NASDAQ:NEXN) Reaches New 52-Week High – Here’s Why

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.75 and last traded at $10.75, with a volume of 204318 shares trading hands. The stock had previously closed at $10.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NEXN shares. Wall Street Zen upgraded shares of Nexxen International from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Royal Bank Of Canada upped their price target on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Rosenblatt Securities reiterated a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a research note on Wednesday, June 17th. Scotiabank raised their target price on Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 17th. Finally, BTIG Research boosted their price target on Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.61.

Nexxen International Stock Up 3.0%

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 market capitalization of $606.92 million, a price-to-earnings ratio of 35.84 and a beta of 1.60. The business’s 50-day moving average is $9.30 and its 200-day moving average is $7.73.

Nexxen International (NASDAQ:NEXN) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. The company had revenue of $86.84 million for the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. As a group, equities analysts predict that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Nexxen International

In other news, CFO Sagi Niri sold 68,886 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $9.08, for a total transaction of $625,484.88. Following the sale, the chief financial officer directly owned 381,856 shares of the company’s stock, valued at $3,467,252.48. This represents a 15.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 258,468 shares of company stock valued at $2,350,050 in the last three months.

Hedge Funds Weigh In On Nexxen International

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in Nexxen International in the second quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International in the 3rd quarter valued at $43,000. Jump Financial LLC purchased a new stake in Nexxen International in the 4th quarter worth $95,000. New York State Common Retirement Fund acquired a new position in Nexxen International during the second quarter worth $124,000. Finally, GAMMA Investing LLC grew its position in shares of Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after purchasing an additional 6,764 shares during the period. Hedge funds and other 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.