Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Stock Has Consensus Target Price of $12.89 According to Brokerages

Shares of Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $12.89.

Several brokerages recently weighed in on NEXN. Weiss Ratings lowered Nexxen International from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, September 24th. BTIG Research upped their price objective on shares of Nexxen International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group increased their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Royal Bank Of Canada lifted their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Nexxen International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th.

Insider Activity at Nexxen International

In related news, CFO Sagi Niri sold 49,826 shares of Nexxen International stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $9.54, for a total value of $475,340.04. Following the completion of the transaction, the chief financial officer directly owned 332,030 shares in the company, valued at approximately $3,167,566.20. The trade was a 13.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of Nexxen International stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the transaction, the director owned 34,678 shares of the company’s stock, valued at $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,258 shares of company stock valued at $811,726.

Hedge Funds Weigh In On Nexxen International

Several hedge funds have recently made changes to their positions in NEXN. Public Employees Retirement System of Ohio purchased a new stake in Nexxen International during the 2nd quarter worth about $826,000. GAMMA Investing LLC boosted 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 acquiring an additional 6,764 shares during the period. Brandywine Trust Co. bought a new position in Nexxen International in the 2nd quarter valued at $143,000. Finally, Pinnacle Holdings LLC purchased a new position in Nexxen International during the second quarter worth about $42,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

Nexxen International Stock Performance

NASDAQ:NEXN opened at $8.93 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $8.66. Nexxen International has a 1 year low of $5.60 and a 1 year high of $11.30. The company has a market capitalization of $508.56 million, a P/E ratio of 40.59 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 (EPS) for the quarter, beating 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 analyst estimates of $93.09 million. On average, analysts expect that Nexxen International will post 0.73 earnings per share for the current year.

Nexxen International Company Profile

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, advertising agencies, publishers and media owners. Its platform supports the planning, buying, delivery and measurement of digital advertising campaigns across connected television, streaming video, online video, display, mobile and other digital media channels.

The company offers data-driven audience targeting, programmatic media buying, campaign optimization, creative and interactive advertising formats, and measurement and attribution services.