Nexxen International (NASDAQ:NEXN) to Buyback $40.00 million in Shares

Nexxen International (NASDAQ:NEXN - Get Free Report) announced that its board has approved a share repurchase program on Thursday, November 20th, RTT News reports. The company plans to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.Get Nexxen International alerts:Analyst Upgrades and DowngradesNEXN has been the topic of a number of research reports. Wall Street Zen downgraded Nexxen International from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Craig Hallum lowered shares of Nexxen International from a "buy" rating to a "hold" rating and set a $8.00 target price for the company. in a report on Thursday, November 13th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexxen International in a research note on Wednesday, October 8th. Citizens Jmp lowered their price objective on shares of Nexxen International from $15.00 to $12.00 and set a "market outperform" rating for the company in a research report on Friday, November 14th. Finally, Royal Bank Of Canada reduced their target price on shares of Nexxen International from $14.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, November 14th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.60.Read Our Latest Stock Report on Nexxen InternationalNexxen International Trading Up 2.0%NEXN traded up $0.13 during trading on Thursday, reaching $6.49. The company had a trading volume of 595,767 shares, compared to its average volume of 445,304. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.04. The business has a 50 day simple moving average of $8.42 and a 200-day simple moving average of $9.67. The stock has a market cap of $411.60 million, a P/E ratio of 10.82 and a beta of 1.70. Nexxen International has a 52 week low of $6.08 and a 52 week high of $12.60. Nexxen International Company Profile 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.See AlsoFive stocks we like better than Nexxen InternationalWhat Percentage Gainers Tell Investors and Why They Don’t Tell the Whole StoryDatavault AI Just Raised Guidance by 400%—Are You Paying Attention?How to Plot Fibonacci Price Inflection Levels Peter Thiel Dumps NVIDIA and Slashes Tesla Stake—Is the AI Bubble About to Pop?3 Grocery Stocks That Are Proving They Are Still Essential Why Lithium Americas Could Be a 2030 Power Play—Not a 2025 OneThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Nexxen International Right Now?Before you consider Nexxen International, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nexxen International wasn't on the list.While Nexxen International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here