Nexxen International (NASDAQ:NEXN) Rating Increased to Buy at Craig Hallum

Nexxen International (NASDAQ:NEXN) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $12.00 price target on the stock. Craig Hallum’s target price points to a potential upside of 33.04% from the stock’s current price.

A number of other brokerages have also recently weighed in on NEXN. Raymond James Financial boosted their price objective on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada lifted their target price on shares of Nexxen International from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. BTIG Research upped their price target on shares of Nexxen International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded shares of Nexxen International from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Finally, Scotiabank raised their price objective on shares of Nexxen International from $10.00 to $11.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, June 17th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.61.

Nexxen International Stock Down 3.9%

Shares of NASDAQ:NEXN opened at $9.02 on Thursday. The company has a market capitalization of $507.65 million, a PE ratio of 30.07 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International has a twelve month low of $5.60 and a twelve month high of $11.59. The firm has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $7.19.

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 firm had revenue of $86.84 million during the quarter. Nexxen International had a net margin of 4.85% and a return on equity of 7.78%. On average, equities analysts predict that Nexxen International will post 0.75 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sagi Niri sold 68,886 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $9.08, for a total transaction of $625,484.88. Following the transaction, the chief financial officer owned 381,856 shares of the company’s stock, valued at $3,467,252.48. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 237,235 shares of company stock worth $2,129,742.

Hedge Funds Weigh In On Nexxen International

Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new position in shares of Nexxen International in the 2nd quarter valued at about $25,000. Quantbot Technologies LP acquired a new stake in shares of Nexxen International in the third quarter valued at about $43,000. New York State Common Retirement Fund purchased a new stake in Nexxen International during the second quarter worth about $124,000. Jump Financial LLC purchased a new stake in Nexxen International during the fourth quarter worth about $95,000. Finally, GAMMA Investing LLC grew its position in Nexxen International by 69.5% during the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock worth $149,000 after buying an additional 6,764 shares during the period. 54.24% of the stock is owned by institutional investors and hedge funds.

About Nexxen International

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.