Nexxen International (NASDAQ:NEXN) Given New $12.00 Price Target at Canaccord Genuity Group

by · The Markets Daily

Nexxen International (NASDAQ:NEXN – Free Report) had its price objective reduced by Canaccord Genuity Group from $14.00 to $12.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on NEXN. Craig Hallum lowered shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Thursday. Wall Street Zen cut Nexxen International from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $16.00 price objective on shares of Nexxen International in a report on Friday, August 22nd. BTIG Research cut their price objective on Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC decreased their target price on Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Check Out Our Latest Analysis on Nexxen International

Nexxen International Stock Up 1.7%

NEXN traded up $0.11 during midday trading on Friday, hitting $6.43. 762,790 shares of the company’s stock traded hands, compared to its average volume of 434,621. 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 company has a market cap of $407.79 million, a PE ratio of 10.72 and a beta of 1.70. The stock’s fifty day simple moving average is $8.69 and its 200-day simple moving average is $9.80. Nexxen International has a one year low of $6.08 and a one year high of $12.60.

Nexxen International announced that its board has initiated a stock repurchase program on Friday, August 15th that authorizes the company to repurchase $20.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Nexxen International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc. lifted its position 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 worth $830,000 after acquiring an additional 1,182 shares during the period. California State Teachers Retirement System bought a new position in Nexxen International in the second quarter worth $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International during the third quarter worth $43,000. Legato Capital Management LLC increased its holdings in Nexxen International by 54.4% in the 3rd quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock valued at $187,000 after buying an additional 7,124 shares during the period. Finally, Strs Ohio raised its stake in shares of Nexxen International by 14.1% in the 3rd quarter. Strs Ohio now owns 61,400 shares of the company’s stock valued at $568,000 after buying an additional 7,600 shares in the last quarter. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Company Profile

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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.

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