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

Shares of Nexxen International Ltd. (NASDAQ:NEXN) gapped up before the market opened on Wednesday following a stronger than expected earnings report. 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.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Nexxen International

Institutional investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new stake in shares of Nexxen International in the fourth quarter worth approximately $69,000. GAMMA Investing LLC grew its position 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 acquiring an additional 8,027 shares during the last quarter. Virtu Financial LLC bought a new position in Nexxen International in the 4th quarter valued at $110,000. D.A. Davidson & CO. purchased a new stake in Nexxen International in the fourth quarter worth $121,000. Finally, Jane Street Group LLC bought a new stake in shares of Nexxen International during the fourth quarter worth $121,000. Institutional investors own 54.24% of the company’s stock.

Nexxen International Price Performance

The stock’s 50 day moving average price is $16.99 and its 200-day moving average price is $16.89. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $572.92 million, a PE ratio of 221.88 and a beta of 1.89.

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.