145,339 Shares in Nexxen International Ltd. (NASDAQ:NEXN) Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in Nexxen International Ltd. (NASDAQ:NEXN) during the fourth quarter, HoldingsChannel reports. The firm purchased 145,339 shares of the company’s stock, valued at approximately $1,456,000.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new position in shares of Nexxen International in the fourth quarter valued at approximately $69,000. GAMMA Investing LLC boosted its stake in Nexxen International by 2,021.9% in the 4th quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after purchasing an additional 8,027 shares during the period. Virtu Financial LLC acquired a new position in Nexxen International in the 4th quarter valued at $110,000. D.A. Davidson & CO. acquired a new position in Nexxen International in the 4th quarter valued at $121,000. Finally, Sei Investments Co. bought a new position in Nexxen International during the 4th quarter worth $127,000. Institutional investors and hedge funds own 54.24% of the company’s stock.

Nexxen International Stock Up 1.5 %

Shares of NEXN opened at $8.65 on Friday. The firm has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $15.35. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.43 and a quick ratio of 1.43. Nexxen International Ltd. has a one year low of $6.93 and a one year high of $21.88. The company has a market cap of $548.56 million, a P/E ratio of 216.25 and a beta of 1.81.

Nexxen International declared that its board has approved a share repurchase program on Wednesday, March 5th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

NEXN has been the topic of several research reports. Canaccord Genuity Group began coverage on shares of Nexxen International in a research note on Wednesday, March 26th. They issued a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Nexxen International in a research report on Thursday, March 6th. Scotiabank assumed coverage on shares of Nexxen International in a research report on Monday, March 31st. They issued a “sector outperform” rating and a $17.00 price target for the company. Craig Hallum started coverage on Nexxen International in a research report on Thursday. They set a “buy” rating and a $15.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Nexxen International from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Nexxen International presently has a consensus rating of “Moderate Buy” and an average price target of $16.75.

Nexxen International 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.