Marshall Wace LLP Acquires 315,864 Shares of Nexxen International Ltd. (NASDAQ:NEXN)

Marshall Wace LLP increased its holdings in shares of Nexxen International Ltd. (NASDAQ:NEXN) by 471.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 382,924 shares of the company’s stock after buying an additional 315,864 shares during the quarter. Marshall Wace LLP’s holdings in Nexxen International were worth $3,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Walleye Capital LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $642,000. XTX Topco Ltd bought a new position in Nexxen International during the fourth quarter valued at $218,000. Renaissance Technologies LLC increased its position in Nexxen International by 176.1% in the fourth quarter. Renaissance Technologies LLC now owns 433,700 shares of the company’s stock worth $4,346,000 after buying an additional 276,600 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Nexxen International in the fourth quarter valued at $296,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Nexxen International during the 4th quarter valued at $598,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEXN. Craig Hallum initiated coverage on Nexxen International in a research note on Thursday, April 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Canaccord Genuity Group began coverage on shares of Nexxen International in a research report on Wednesday, March 26th. They issued a “buy” rating and a $12.00 price target on the stock. 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 reissued a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and a consensus price target of $16.75.

Nexxen International Stock Performance

NASDAQ NEXN opened at $9.59 on Friday. The company’s 50 day simple moving average is $8.30 and its two-hundred day simple moving average is $14.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. Nexxen International Ltd. has a 1 year low of $6.93 and a 1 year high of $21.88. The stock has a market capitalization of $608.17 million, a PE ratio of 239.75 and a beta of 1.81.

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

Nexxen International 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.