BTIG Research Has Lowered Expectations for Nexxen International (NASDAQ:NEXN) Stock Price

Nexxen International (NASDAQ:NEXN) had its price target reduced by research analysts at BTIG Research from $13.00 to $10.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 56.99% from the company’s current price.

Several other research analysts have also commented on NEXN. Needham & Company LLC lowered their price objective on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday. Craig Hallum cut shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a research report on Thursday. Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 target price on shares of Nexxen International in a report on Friday, August 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.11.

Nexxen International Trading Down 20.8%

Shares of NEXN traded down $1.67 during midday trading on Thursday, hitting $6.37. 1,341,812 shares of the stock were exchanged, compared to its average volume of 419,665. Nexxen International has a 52-week low of $6.08 and a 52-week high of $12.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a fifty day simple moving average of $8.82 and a 200 day simple moving average of $9.86. The firm has a market cap of $403.99 million, a P/E ratio of 10.11 and a beta of 1.70.

Nexxen International (NASDAQ:NEXN) last posted its earnings results on Thursday, November 13th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.08). Nexxen International had a return on equity of 13.64% and a net margin of 13.37%. Nexxen International has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Nexxen International will post 0.25 EPS for the current fiscal year.

Nexxen International announced that its board has authorized a share repurchase program on Friday, August 15th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in Nexxen International in the second quarter valued at $25,000. Quantbot Technologies LP purchased a new position in shares of Nexxen International during the third quarter worth about $43,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Nexxen International in the 2nd quarter valued at about $90,000. SG Americas Securities LLC purchased a new stake in shares of Nexxen International in the 3rd quarter valued at about $102,000. Finally, New York State Common Retirement Fund acquired a new position in Nexxen International during the second quarter worth approximately $124,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Company Profile

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.