Nexxen International (NASDAQ:NEXN) Price Target Lowered to $12.00 at Canaccord Genuity Group

Nexxen International (NASDAQ:NEXN - Get Free Report) had its price target dropped by investment analysts at Canaccord Genuity Group from $14.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 90.33% from the company's previous close.

A number of other research firms have also recently commented on NEXN. 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 note on Thursday. Citizens Jmp reduced their price target on shares of Nexxen International from $15.00 to $12.00 and set a "market outperform" rating on the stock in a research report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and set a $16.00 price objective on shares of Nexxen International in a research report on Friday, August 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Nexxen International in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut Nexxen International from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.60.

Read Our Latest Analysis on NEXN

Nexxen International Trading Down 0.2%

NEXN stock traded down $0.02 during midday trading on Friday, hitting $6.31. The stock had a trading volume of 478,770 shares, compared to its average volume of 421,562. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $8.76 and a two-hundred day moving average price of $9.83. 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 $399.86 million, a P/E ratio of 9.93 and a beta of 1.70.

Nexxen International declared that its Board of Directors has initiated a stock repurchase program on Friday, August 15th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JB Capital Partners LP raised its position in Nexxen International by 1.8% in the second quarter. JB Capital Partners LP now owns 3,555,097 shares of the company's stock valued at $37,009,000 after purchasing an additional 62,540 shares during the period. Rock Point Advisors LLC grew its stake in Nexxen International by 14.9% during the 3rd quarter. Rock Point Advisors LLC now owns 667,222 shares of the company's stock worth $6,172,000 after purchasing an additional 86,415 shares in the last quarter. Geode Capital Management LLC increased its holdings in Nexxen International by 1,062.0% during the 2nd quarter. Geode Capital Management LLC now owns 509,808 shares of the company's stock worth $5,307,000 after purchasing an additional 465,936 shares during the period. ARK Investment Management LLC acquired a new stake in Nexxen International in the 3rd quarter valued at about $1,798,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Nexxen International during the third quarter worth about $1,239,000. Institutional investors and hedge funds own 54.24% of the company's stock.

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.

Read More

• Five stocks we like better than Nexxen International
• Pets Are Big Business: 4 Big-Ticket Pet Stocks to Add to Your Portfolio
• Eli Lilly Strikes Deal With Trump: Why Shares Are Up 10% Since
• Where Do I Find 52-Week Highs and Lows?
• Here's What We Learned From AST SpaceMobile's Q3 Earnings Report
• Utilities Stocks Explained – How and Why to Invest in Utilities
• 3 Stocks Quietly Leveraging AI While Everyone Chases NVIDIA

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Nexxen International Right Now?

Before you consider Nexxen International, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nexxen International wasn't on the list.

While Nexxen International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here