Nexxen International (NASDAQ:NEXN) Price Target Cut to $10.00 by Analysts at BTIG Research

Nexxen International (NASDAQ:NEXN) had its target price cut by stock analysts at BTIG Research from $13.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 56.99% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on NEXN. Rosenblatt Securities reissued a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research note on Friday, August 22nd. Craig Hallum cut 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 note on Thursday. Wall Street Zen downgraded shares of Nexxen International from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Needham & Company LLC lowered their price objective on Nexxen International from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Nexxen International in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.11.

Nexxen International Stock Performance

NEXN stock traded down $1.67 during midday trading on Thursday, hitting $6.37. 1,341,812 shares of the stock traded hands, compared to its average volume of 419,665. Nexxen International has a 1-year low of $6.08 and a 1-year high of $12.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $9.86. The firm has a market cap of $403.99 million, a P/E ratio of 10.11 and a beta of 1.70.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Nexxen International had a return on equity of 13.64% and a net margin of 13.37%. Nexxen International has set its FY 2025 guidance at EPS. On average, analysts expect that Nexxen International will post 0.25 earnings per share for the current year.

Nexxen International announced that its Board of Directors has initiated a share repurchase program on Friday, August 15th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.4% 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 Investors Weigh In On Nexxen International

Hedge funds have recently modified their holdings of the company. Navellier & Associates Inc. grew its stake in shares of Nexxen International by 1.2% in the 1st quarter. Navellier & Associates Inc. now owns 99,374 shares of the company’s stock valued at $830,000 after buying an additional 1,182 shares during the period. Quantbot Technologies LP purchased a new position in Nexxen International in the first quarter worth approximately $153,000. Jump Financial LLC acquired a new stake in Nexxen International during the first quarter worth $146,000. JB Capital Partners LP raised its position in Nexxen International by 2,490.0% in the first quarter. JB Capital Partners LP now owns 3,492,557 shares of the company’s stock valued at $29,163,000 after purchasing an additional 3,357,707 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Nexxen International by 1,062.0% in the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company’s stock valued at $5,307,000 after purchasing an additional 465,936 shares during the last quarter. Hedge funds and other institutional investors own 54.24% of the company’s stock.

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.