Independent Advisor Alliance Invests $190,000 in Nexxen International Ltd. (NASDAQ:NEXN)

Independent Advisor Alliance purchased a new stake in shares of Nexxen International Ltd. (NASDAQ:NEXN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,007 shares of the company’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rice Hall James & Associates LLC lifted its position in shares of Nexxen International by 86.3% in the 4th quarter. Rice Hall James & Associates LLC now owns 567,544 shares of the company’s stock worth $5,687,000 after purchasing an additional 262,961 shares during the period. Navellier & Associates Inc. bought a new stake in Nexxen International during the 4th quarter valued at approximately $984,000. JPMorgan Chase & Co. grew its holdings in shares of Nexxen International by 24.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 57,998 shares of the company’s stock worth $466,000 after acquiring an additional 11,346 shares during the period. Tidal Investments LLC raised its position in shares of Nexxen International by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 48,072 shares of the company’s stock worth $386,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Nexxen International during the third quarter valued at approximately $123,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Stock Up 0.6 %

NASDAQ:NEXN opened at $7.19 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $455.97 million, a P/E ratio of 179.75 and a beta of 1.91. Nexxen International Ltd. has a fifty-two week low of $6.93 and a fifty-two week high of $21.88. The firm has a 50-day simple moving average of $14.00 and a two-hundred day simple moving average of $16.26.

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

Analyst Ratings Changes

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

About Nexxen International

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.