Citadel Advisors LLC Makes New Investment in FG Nexus Inc $FGNX

Citadel Advisors LLC acquired a new position in FG Nexus Inc (NASDAQ:FGNX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 240,924 shares of the company’s stock, valued at approximately $1,246,000. Citadel Advisors LLC owned approximately 4.72% of FG Nexus at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. United Capital Management of KS Inc. purchased a new stake in FG Nexus in the fourth quarter worth approximately $440,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of FG Nexus during the fourth quarter worth approximately $324,000. Everstar Asset Management LLC bought a new stake in FG Nexus in the fourth quarter worth $1,045,000. Aristides Capital LLC bought a new stake in shares of FG Nexus in the 4th quarter valued at about $182,000. Finally, Geode Capital Management LLC bought a new stake in FG Nexus in the fourth quarter valued at approximately $1,330,000. 3.13% of the stock is owned by hedge funds and other institutional investors.

FG Nexus Price Performance

Shares of NASDAQ:FGNX opened at $8.05 on Friday. The company has a market cap of $41.05 million, a P/E ratio of -1.15 and a beta of 1.09. The stock’s fifty day moving average price is $6.94 and its 200-day moving average price is $6.62. FG Nexus Inc has a 1 year low of $4.18 and a 1 year high of $45.80.

FG Nexus (NASDAQ:FGNX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($3.07) EPS for the quarter, topping analysts’ consensus estimates of ($6.45) by $3.38. The firm had revenue of $0.24 million during the quarter. FG Nexus had a negative net margin of 4,888.86% and a negative return on equity of 95.68%. On average, sell-side analysts anticipate that FG Nexus Inc will post -12.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

FGNX has been the subject of several recent analyst reports. Wall Street Zen raised shares of FG Nexus from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.00.

FG Nexus Company Profile

FG Financial Group, Inc operates as a reinsurance and investment management holding company in the United States. The company offers specialty property and casualty reinsurance products and services. It also operates a special purpose acquisition company platform (SPAC) that provides various strategic, administrative, and regulatory support services to newly formed SPACs for a monthly fee. The company was formerly known as 1347 Property Insurance Holdings, Inc and changed its name to FG Financial Group, Inc in December 2020.