Nexxen International (NASDAQ:NEXN) Sees Large Volume Increase – What’s Next?

Nexxen International Ltd. (NASDAQ:NEXN) saw strong trading volume on Wednesday . 154,081 shares were traded during mid-day trading, an increase of 93% from the previous session’s volume of 79,681 shares.The stock last traded at $7.96 and had previously closed at $8.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NEXN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Nexxen International in a report on Thursday, March 6th. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Nexxen International in a research note on Monday, January 27th. Finally, Royal Bank of Canada raised their price target on shares of Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nexxen International has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Nexxen International Stock Performance

The company has a market cap of $494.65 million, a PE ratio of 194.23 and a beta of 1.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50-day moving average of $15.86 and a 200 day moving average of $16.67.

Nexxen International declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Nexxen International

Large investors have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new position in Nexxen International in the fourth quarter worth approximately $69,000. GAMMA Investing LLC increased its stake in shares of Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock worth $84,000 after purchasing an additional 8,027 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Nexxen International in the 4th quarter worth $110,000. D.A. Davidson & CO. bought a new position in Nexxen International in the 4th quarter worth $121,000. Finally, Jane Street Group LLC purchased a new position in Nexxen International during the fourth quarter valued at $121,000. 54.24% of the stock is currently owned by institutional investors.

Nexxen International Company Profile

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. 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.