Share Repurchase Plan Authorized by Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN) announced that its Board of Directors has authorized a stock buyback plan on Friday, January 2nd, RTT News reports. The company plans to buyback $40.00 million in shares. This buyback authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Nexxen International in a research note on Monday. Canaccord Genuity Group reduced their price objective on Nexxen International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 14th. Citizens Jmp dropped their price target on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating on the stock in a report on Friday, November 14th. Royal Bank Of Canada lowered their price objective on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Finally, Craig Hallum downgraded shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research report on Thursday, November 13th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.50.

Nexxen International Stock Performance

Nexxen International stock traded down $0.22 during trading on Friday, reaching $6.32. The company had a trading volume of 508,307 shares, compared to its average volume of 342,492. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $8.72. The firm has a market capitalization of $358.66 million, a price-to-earnings ratio of 10.53 and a beta of 1.71. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60.

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.