Rosenblatt Securities Reiterates “Buy” Rating for Nexxen International (NASDAQ:NEXN)

Nexxen International (NASDAQ:NEXN)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report released on Monday,Benzinga reports. They currently have a $15.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 123.88% from the company’s previous close.

NEXN has been the subject of a number of other reports. BTIG Research decreased their price objective on Nexxen International from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Canaccord Genuity Group cut their price objective on Nexxen International from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Nexxen International in a research report on Wednesday, October 8th. Needham & Company LLC dropped their price target on shares of Nexxen International from $14.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Craig Hallum downgraded shares of Nexxen International from a “buy” rating to a “hold” rating and set a $8.00 target price for the company. in a research note on Thursday, November 13th. Nine 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 target price of $12.50.

Nexxen International Stock Up 0.6%

Shares of NASDAQ NEXN opened at $6.70 on Monday. The company has a 50 day simple moving average of $7.15 and a 200 day simple moving average of $8.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.25 and a quick ratio of 1.25. Nexxen International has a 1 year low of $6.08 and a 1 year high of $12.60. The firm has a market cap of $380.23 million, a PE ratio of 11.17 and a beta of 1.71.

Nexxen International announced that its Board of Directors has approved a stock buyback plan on Thursday, November 20th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Nexxen International

A number of hedge funds have recently added to or reduced their stakes in the company. FourThought Financial Partners LLC bought a new position in shares of Nexxen International in the third quarter valued at $168,000. ARK Investment Management LLC purchased a new stake in shares of Nexxen International in the third quarter worth approximately $1,798,000. Rock Point Advisors LLC lifted its holdings in shares of Nexxen International by 14.9% in the third quarter. Rock Point Advisors LLC now owns 667,222 shares of the company’s stock valued at $6,172,000 after purchasing an additional 86,415 shares in the last quarter. Legato Capital Management LLC boosted its position 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 valued at $187,000 after buying an additional 7,124 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Nexxen International during the third quarter worth $43,000. Institutional investors and hedge funds 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. Its sell supply side platform (SSP) provides access to data and a comprehensive product suite to drive inventory management and revenue optimization. The company also offers data management platform solution, which integrates DSP and SSP solutions enabling advertisers and publishers to use data from various sources in order to optimize results of their advertising campaigns.