Nexxen International (NASDAQ:NEXN) Price Target Raised to $16.00 at Rosenblatt Securities

Nexxen International (NASDAQ:NEXN) had its price target lifted by stock analysts at Rosenblatt Securities from $15.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price indicates a potential upside of 37.69% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Nexxen International from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday. Canaccord Genuity Group boosted their price target on shares of Nexxen International from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday. Scotiabank assumed coverage on shares of Nexxen International in a research report on Monday, March 31st. They set a “sector outperform” rating and a $17.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price objective on shares of Nexxen International in a report on Monday, January 27th. Finally, Craig Hallum started coverage on shares of Nexxen International in a research report on Thursday, April 10th. They issued a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and an average target price of $15.70.

Nexxen International Price Performance

Nexxen International stock opened at $11.62 on Thursday. The stock has a market cap of $736.91 million, a price-to-earnings ratio of 290.50 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $14.43. Nexxen International has a 52 week low of $6.93 and a 52 week high of $21.88.

Nexxen International declared that its Board of Directors has approved a share repurchase program on Wednesday, March 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire 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 institutional investors have recently added to or reduced their stakes in the business. JB Capital Partners LP lifted 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 last quarter. Jump Financial LLC bought a new stake in shares of Nexxen International in the 1st quarter worth approximately $146,000. Quantbot Technologies LP purchased a new position in shares of Nexxen International during the first quarter valued at approximately $153,000. Navellier & Associates Inc. raised its holdings in shares of Nexxen International by 1.2% during the first quarter. Navellier & Associates Inc. now owns 99,374 shares of the company’s stock valued at $830,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in Nexxen International in the first quarter worth $174,000. 54.24% of the stock is currently owned by hedge funds and other institutional investors.

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.