Daniel Yosef Kerstein Sells 11,000 Shares of Nexxen International (NASDAQ:NEXN) Stock

Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN) Director Daniel Yosef Kerstein sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $10.38, for a total value of $114,180.00. Following the transaction, the director directly owned 34,678 shares of the company’s stock, valued at $359,957.64. This represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nexxen International Price Performance

NASDAQ:NEXN opened at $9.74 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $9.74 and its 200 day moving average price is $8.06. Nexxen International Ltd. Sponsored ADR has a 52-week low of $5.60 and a 52-week high of $11.30. The firm has a market cap of $548.17 million, a P/E ratio of 44.27 and a beta of 1.60.

Nexxen International (NASDAQ:NEXN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The company had revenue of $100.52 million during the quarter, compared to the consensus estimate of $93.09 million. As a group, sell-side analysts predict that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on NEXN shares. Scotiabank raised their target price on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “sector outperform” rating in a report on Thursday, August 13th. Canaccord Genuity Group lifted their price target on shares of Nexxen International from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Needham & Company LLC upped their price target on Nexxen International from $10.50 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Royal Bank Of Canada increased their price objective on Nexxen International from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Finally, BTIG Research raised their price objective on Nexxen International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.89.

Hedge Funds Weigh In On Nexxen International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rock Point Advisors LLC raised its stake in Nexxen International by 42.5% during the 4th quarter. Rock Point Advisors LLC now owns 950,517 shares of the company’s stock valued at $6,216,000 after purchasing an additional 283,295 shares during the period. Strs Ohio boosted its position in shares of Nexxen International by 35.7% in the fourth quarter. Strs Ohio now owns 83,300 shares of the company’s stock worth $545,000 after buying an additional 21,900 shares during the period. Jump Financial LLC acquired a new stake in shares of Nexxen International in the fourth quarter worth $95,000. FourThought Financial Partners LLC purchased a new position in shares of Nexxen International during the third quarter valued at $168,000. Finally, Quantbot Technologies LP purchased a new position in shares of Nexxen International during the third quarter valued at $43,000. 54.24% of the stock is currently 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. 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.