Nexxen International (NASDAQ:NEXN) Now Covered by Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Nexxen International (NASDAQ:NEXN) in a research note published on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

A number of other research firms have also recently weighed in on NEXN. Royal Bank of Canada boosted their price target on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 target price on shares of Nexxen International in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Nexxen International Stock Down 0.1 %

Shares of NASDAQ NEXN opened at $7.62 on Wednesday. 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 firm’s 50-day moving average is $12.54 and its two-hundred day moving average is $15.95. Nexxen International has a 12-month low of $6.93 and a 12-month high of $21.88. The company has a market capitalization of $483.24 million, a PE ratio of 190.50 and a beta of 1.91.

Nexxen International declared that its Board of Directors has approved a share buyback program on Wednesday, March 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its position in Nexxen International by 4.6% in the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock valued at $386,000 after acquiring an additional 2,125 shares in the last quarter. Advisors Preferred LLC acquired a new position in Nexxen International in the 4th quarter worth $69,000. GAMMA Investing LLC boosted its position in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after buying an additional 8,027 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Nexxen International during the fourth quarter worth about $110,000. Finally, JPMorgan Chase & Co. boosted its holdings in Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock valued at $466,000 after purchasing an additional 11,346 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Nexxen International

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.