Key Points
- Nexxen International CFO Sagi Niri sold 18,660 shares on June 2 at an average price of $8.52, totaling about $158,983. The sale reduced his ownership by 3.5% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Niri also reported additional recent sales on June 3, June 1, and May 29, bringing more attention to insider selling at the company. After the June 2 transaction, he still held 514,136 shares worth roughly $4.38 million.
- Despite the insider activity, Wall Street remains moderately bullish on Nexxen International, with seven Buy ratings, two Hold ratings, and a consensus price target of $10.69. The stock recently traded at $8.56, below that target but above its 50-day and 200-day moving averages.
Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) CFO Sagi Niri sold 18,660 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $8.52, for a total value of $158,983.20. Following the completion of the sale, the chief financial officer owned 514,136 shares of the company's stock, valued at approximately $4,380,438.72. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sagi Niri also recently made the following trade(s):
- On Wednesday, June 3rd, Sagi Niri sold 1,027 shares of Nexxen International stock. The shares were sold at an average price of $8.58, for a total value of $8,811.66.
- On Monday, June 1st, Sagi Niri sold 33,757 shares of Nexxen International stock. The shares were sold at an average price of $8.63, for a total value of $291,322.91.
- On Friday, May 29th, Sagi Niri sold 1,486 shares of Nexxen International stock. The shares were sold at an average price of $8.50, for a total value of $12,631.00.
Nexxen International Stock Performance
NASDAQ NEXN opened at $8.56 on Friday. The stock has a market cap of $481.76 million, a PE ratio of 28.53 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.04. Nexxen International Ltd. Sponsored ADR has a twelve month low of $5.60 and a twelve month high of $11.59. The stock has a fifty day simple moving average of $7.49 and a 200-day simple moving average of $6.81.
Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.06 earnings per share for the quarter. The business had revenue of $86.84 million during the quarter. Nexxen International had a return on equity of 7.78% and a net margin of 4.85%. Equities analysts anticipate that Nexxen International Ltd. Sponsored ADR will post 0.73 earnings per share for the current year.
Hedge Funds Weigh In On Nexxen International
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rock Point Advisors LLC boosted its holdings 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 acquiring an additional 283,295 shares during the period. Geode Capital Management LLC boosted 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 valued at $5,307,000 after acquiring an additional 465,936 shares during the period. ARK Investment Management LLC purchased a new position in Nexxen International during the 3rd quarter valued at about $1,798,000. BNP Paribas Financial Markets boosted its holdings in Nexxen International by 354.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 122,106 shares of the company's stock valued at $1,271,000 after acquiring an additional 95,219 shares during the period. Finally, Navellier & Associates Inc. boosted its holdings in Nexxen International by 4.0% during the 3rd quarter. Navellier & Associates Inc. now owns 110,156 shares of the company's stock valued at $1,019,000 after acquiring an additional 4,200 shares during the period. 54.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Nexxen International from $7.50 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Rosenblatt Securities increased their price target on Nexxen International from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Scotiabank lowered their price target on Nexxen International from $12.00 to $10.00 and set a "sector outperform" rating for the company in a report on Thursday, March 5th. Canaccord Genuity Group lowered their price target on Nexxen International from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Finally, BTIG Research lowered their price target on Nexxen International from $10.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.69.
Check Out Our Latest Research Report on Nexxen International
About Nexxen International
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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.
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