Nexxen International (NASDAQ:NEXN) Downgraded to Hold Rating by Zacks Research

by · The Cerbat Gem

Nexxen International (NASDAQ:NEXN – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

NEXN has been the subject of several other research reports. Canaccord Genuity Group upped their price objective on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Nexxen International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 27th. Royal Bank Of Canada upped their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Raymond James Financial increased their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Finally, Craig Hallum upgraded shares of Nexxen International from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.89.

Get Our Latest Stock Report on NEXN

Nexxen International Stock Performance

Shares of NEXN stock opened at $8.63 on Tuesday. Nexxen International has a 12-month low of $5.60 and a 12-month high of $11.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $491.48 million, a price-to-earnings ratio of 39.23 and a beta of 1.60. The business has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $8.62.

Nexxen International (NASDAQ:NEXN – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Nexxen International had a return on equity of 7.03% and a net margin of 3.41%.The firm had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. On average, equities research analysts anticipate that Nexxen International will post 0.73 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sagi Niri sold 17,578 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $10.51, for a total transaction of $184,744.78. Following the transaction, the chief financial officer directly owned 126,488 shares of the company’s stock, valued at approximately $1,329,388.88. The trade was a 12.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Daniel Kerstein sold 11,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $10.38, for a total value of $114,180.00. Following the completion of the sale, the director directly owned 34,678 shares of the company’s stock, valued at approximately $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,327 shares of company stock worth $1,493,662 in the last 90 days.

Hedge Funds Weigh In On Nexxen International

Several institutional investors and hedge funds have recently bought and sold shares of NEXN. Pinnacle Holdings LLC purchased a new position in shares of Nexxen International during the 2nd quarter valued at $42,000. Legato Capital Management LLC boosted its position in Nexxen International by 23.8% during the fourth quarter. Legato Capital Management LLC now owns 25,028 shares of the company’s stock valued at $164,000 after purchasing an additional 4,815 shares during the last quarter. GAMMA Investing LLC grew its stake in Nexxen International by 69.5% in the second quarter. GAMMA Investing LLC now owns 16,496 shares of the company’s stock valued at $149,000 after purchasing an additional 6,764 shares in the last quarter. Brandywine Trust Co. purchased a new position in Nexxen International in the second quarter valued at about $143,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Nexxen International in the 2nd quarter worth about $826,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Nexxen International Company Profile

(Get Free Report)

Nexxen International Ltd. is a global advertising technology company that provides solutions for advertisers, advertising agencies, publishers and media owners. Its platform supports the planning, buying, delivery and measurement of digital advertising campaigns across connected television, streaming video, online video, display, mobile and other digital media channels.

The company offers data-driven audience targeting, programmatic media buying, campaign optimization, creative and interactive advertising formats, and measurement and attribution services.

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