Nexxen International (NASDAQ:NEXN) Shares Gap Up After Earnings Beat

Nexxen International Ltd. (NASDAQ:NEXN) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $7.42, but opened at $8.49. Nexxen International shares last traded at $8.69, with a volume of 155,454 shares trading hands.

The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.13. Nexxen International had a return on equity of 7.49% and a net margin of 3.96%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NEXN shares. Royal Bank of Canada lifted their price target on Nexxen International from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. Finally, Needham & Company LLC increased their price target on shares of Nexxen International from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nexxen International presently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Institutional Trading of Nexxen International

A number of institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC purchased a new stake in Nexxen International in the fourth quarter worth approximately $69,000. GAMMA Investing LLC increased its position in Nexxen International by 2,021.9% during the fourth quarter. GAMMA Investing LLC now owns 8,424 shares of the company’s stock valued at $84,000 after acquiring an additional 8,027 shares during the last quarter. Virtu Financial LLC bought a new position in Nexxen International in the fourth quarter valued at about $110,000. D.A. Davidson & CO. purchased a new position in Nexxen International during the fourth quarter valued at $121,000. Finally, Jane Street Group LLC bought a new position in shares of Nexxen International during the 4th quarter valued at approximately $121,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.

Nexxen International Price Performance

The firm has a market cap of $572.92 million, a P/E ratio of 221.88 and a beta of 1.89. The firm’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $16.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43.

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.