Royal Bank Of Canada Lowers Nexxen International (NASDAQ:NEXN) Price Target to $12.00

Nexxen International (NASDAQ:NEXN) had its target price decreased by equities researchers at Royal Bank Of Canada from $14.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 86.63% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexxen International in a research note on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 price target on shares of Nexxen International in a research report on Friday, August 22nd. BTIG Research reduced their price target on Nexxen International from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday. Wall Street Zen lowered Nexxen International from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Finally, Craig Hallum downgraded Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.60.

Nexxen International Stock Up 1.7%

NEXN stock opened at $6.43 on Friday. Nexxen International has a fifty-two week low of $6.08 and a fifty-two week high of $12.60. 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 stock has a market capitalization of $407.79 million, a price-to-earnings ratio of 10.72 and a beta of 1.70. The business’s fifty day moving average price is $8.69 and its two-hundred day moving average price is $9.80.

Nexxen International announced that its board has authorized a stock repurchase plan on Friday, August 15th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Navellier & Associates Inc. boosted its stake 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 valued at $830,000 after purchasing an additional 1,182 shares in the last quarter. California State Teachers Retirement System bought a new position in Nexxen International in the 2nd quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new stake in Nexxen International in the third quarter valued at approximately $43,000. Legato Capital Management LLC grew its stake in shares of Nexxen International by 54.4% during the third quarter. Legato Capital Management LLC now owns 20,213 shares of the company’s stock worth $187,000 after buying an additional 7,124 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Nexxen International by 14.1% during the third quarter. Strs Ohio now owns 61,400 shares of the company’s stock worth $568,000 after buying an additional 7,600 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.

About Nexxen International

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.