Nexxen International (NASDAQ:NEXN) Coverage Initiated at Scotiabank

Scotiabank initiated coverage on shares of Nexxen International (NASDAQ:NEXN) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage issued a sector outperform rating and a $17.00 price target on the stock.

Several other brokerages have also recently weighed in on NEXN. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Nexxen International in a report on Thursday, March 6th. JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Nexxen International in a research report on Monday, January 27th. Canaccord Genuity Group initiated coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Nexxen International has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Nexxen International Stock Up 4.6 %

NASDAQ NEXN opened at $8.90 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.04. The company has a market cap of $564.41 million, a price-to-earnings ratio of 222.50 and a beta of 1.91. The company has a 50 day moving average of $11.86 and a 200-day moving average of $15.82. Nexxen International has a 1-year low of $6.93 and a 1-year high of $21.88.

Nexxen International declared that its board has approved a stock repurchase plan on Wednesday, March 5th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Nexxen International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in Nexxen International during the 3rd quarter worth approximately $123,000. Tidal Investments LLC lifted its holdings in shares of Nexxen International by 4.6% during the third quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after purchasing an additional 2,125 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Nexxen International by 24.3% in the third quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after purchasing an additional 11,346 shares during the last quarter. GAMMA Investing LLC increased its holdings in Nexxen International by 2,021.9% in the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. Finally, Advisors Preferred LLC bought a new position in Nexxen International during the 4th quarter worth $69,000. 54.24% of the stock is currently owned by 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.