Nexxen International’s (NEXN) “Buy” Rating Reiterated at Needham & Company LLC

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 26.32% from the company’s current price.

NEXN has been the topic of a number of other reports. Royal Bank of Canada raised their price objective 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. JMP Securities reissued a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Nexxen International has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Nexxen International Stock Up 28.0 %

Shares of Nexxen International stock opened at $9.50 on Thursday. The stock’s 50-day moving average is $16.78 and its 200 day moving average is $16.84. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The firm has a market cap of $612.99 million, a price-to-earnings ratio of 237.50 and a beta of 1.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43.

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

Institutional Trading of Nexxen International

Several hedge funds have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after buying an additional 2,125 shares during the last quarter. Advisors Preferred LLC purchased a new position in shares of Nexxen International during the fourth quarter valued at approximately $69,000. GAMMA Investing LLC boosted its position in shares of Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares during the last quarter. Virtu Financial LLC bought a new stake in Nexxen International during the fourth quarter worth $110,000. Finally, JPMorgan Chase & Co. raised its position in Nexxen International by 24.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after buying an additional 11,346 shares during the last quarter. 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.