Nexxen International (NASDAQ:NEXN) Earns Buy Rating from Needham & Company LLC

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report released on Thursday, Marketbeat Ratings reports. They presently have a $12.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 36.67% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Royal Bank of Canada lifted their price objective on shares of Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Nexxen International currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Nexxen International Stock Down 2.7 %

Shares of NASDAQ:NEXN opened at $8.78 on Thursday. Nexxen International has a one year low of $6.93 and a one year high of $21.88. The stock has a market cap of $566.53 million, a price-to-earnings ratio of 219.50 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. The company has a 50 day moving average of $16.34 and a 200-day moving average of $16.75.

Nexxen International announced that its board has initiated a share repurchase program on Wednesday, March 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Nexxen International

Large investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in Nexxen International in the 4th quarter valued at $69,000. GAMMA Investing LLC lifted its position in Nexxen International by 2,021.9% during the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after buying an additional 8,027 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Nexxen International during the 4th quarter worth about $110,000. D.A. Davidson & CO. bought a new position in shares of Nexxen International in the 4th quarter valued at about $121,000. Finally, Jane Street Group LLC acquired a new stake in shares of Nexxen International in the fourth quarter valued at about $121,000. Institutional investors 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.