Key Points
- Director Daniel Yosef Kerstein sold 11,000 Nexxen shares at an average price of $10.38, totaling $114,180, reducing his ownership by 24.08% to 34,678 shares.
- Nexxen’s latest quarterly results exceeded expectations, with earnings per share of $0.23 versus $0.20 expected and revenue of $100.52 million versus a $93.09 million consensus estimate.
- Analyst sentiment remains broadly positive: nine analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $12.89, compared with a recent price of $10.05.
Nexxen International Ltd. Sponsored ADR (NASDAQ:NEXN - Get Free Report) Director Daniel Yosef Kerstein sold 11,000 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $10.38, for a total transaction of $114,180.00. Following the completion of the transaction, the director owned 34,678 shares in the company, valued at approximately $359,957.64. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Nexxen International Trading Down 1.9%
Shares of NASDAQ:NEXN opened at $10.05 on Thursday. Nexxen International Ltd. Sponsored ADR has a 12-month low of $5.60 and a 12-month high of $11.30. The stock has a market cap of $565.65 million, a PE ratio of 45.68 and a beta of 1.60. The business has a 50 day moving average of $9.72 and a 200-day moving average of $8.03. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.05.
Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Nexxen International had a net margin of 3.41% and a return on equity of 7.03%. The business had revenue of $100.52 million for the quarter, compared to the consensus estimate of $93.09 million. As a group, equities research analysts forecast that Nexxen International Ltd. Sponsored ADR will post 0.75 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on NEXN. Wall Street Zen raised Nexxen International from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Weiss Ratings lowered Nexxen International from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Needham & Company LLC lifted their target price on Nexxen International from $10.50 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. BTIG Research boosted their target price on Nexxen International from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $16.00 target price on shares of Nexxen International in a report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.89.
Check Out Our Latest Stock Analysis on NEXN
Hedge Funds Weigh In On Nexxen International
A number of hedge funds and other institutional investors have recently made changes to their positions in NEXN. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 465,936 shares in the last quarter. Rock Point Advisors LLC grew its holdings in shares of Nexxen International by 42.5% in the fourth 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Nexxen International by 354.1% in the second 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Nexxen International during the second quarter valued at approximately $826,000. Finally, Rhumbline Advisers increased its position in shares of Nexxen International by 1,244.5% during the second quarter. Rhumbline Advisers now owns 59,926 shares of the company's stock valued at $624,000 after acquiring an additional 55,469 shares during the last quarter. 54.24% of the stock is owned by institutional investors and hedge funds.
About Nexxen International
(
Get Free Report)
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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