Nexxen International (NASDAQ:NEXN) Price Target Raised to $14.00

Nexxen International (NASDAQ:NEXN) had its target price hoisted by research analysts at Needham & Company LLC from $12.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 20.48% from the company’s previous close.

A number of other brokerages have also weighed in on NEXN. Scotiabank started coverage on shares of Nexxen International in a research note on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target on the stock. Royal Bank of Canada raised their target price on Nexxen International from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Monday. Rosenblatt Securities lifted their price target on Nexxen International from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $22.00 price objective on shares of Nexxen International in a research note on Monday, January 27th. Finally, Canaccord Genuity Group lifted their target price on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Nexxen International Price Performance

Shares of NASDAQ NEXN opened at $11.62 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a fifty day moving average of $8.89 and a 200 day moving average of $14.43. The firm has a market cap of $736.91 million, a PE ratio of 290.50 and a beta of 1.78. Nexxen International has a one year low of $6.93 and a one year high of $21.88.

Nexxen International announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEXN. JB Capital Partners LP raised its stake in Nexxen International by 2,490.0% during the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock worth $29,163,000 after purchasing an additional 3,357,707 shares during the period. Marshall Wace LLP increased its holdings in shares of Nexxen International by 471.0% during the 4th quarter. Marshall Wace LLP now owns 382,924 shares of the company’s stock worth $3,837,000 after buying an additional 315,864 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Nexxen International by 176.1% during the 4th quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after buying an additional 276,600 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Nexxen International by 86.3% during the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after buying an additional 262,961 shares during the last quarter. Finally, Rock Point Advisors LLC raised its position in shares of Nexxen International by 32.7% during the 1st quarter. Rock Point Advisors LLC now owns 643,492 shares of the company’s stock valued at $5,373,000 after buying an additional 158,397 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.

About Nexxen International

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.