Nexxen International (NASDAQ:NEXN) to Buyback $40.00 million in Shares

Nexxen International (NASDAQ:NEXN) announced that its board has approved a share repurchase program on Thursday, November 20th, RTT News reports. The company plans to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

NEXN has been the topic of a number of research reports. Wall Street Zen downgraded Nexxen International from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Craig Hallum lowered shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nexxen International in a research note on Wednesday, October 8th. Citizens Jmp lowered their price objective on shares of Nexxen International from $15.00 to $12.00 and set a “market outperform” rating for the company in a research report on Friday, November 14th. Finally, Royal Bank Of Canada reduced their target price on shares of Nexxen International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 14th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.60.

Nexxen International Trading Up 2.0%

NEXN traded up $0.13 during trading on Thursday, reaching $6.49. The company had a trading volume of 595,767 shares, compared to its average volume of 445,304. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The business has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $9.67. The stock has a market cap of $411.60 million, a P/E ratio of 10.82 and a beta of 1.70. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60.

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.