Citadel Advisors LLC Takes $1.25 Million Position in FG Nexus Inc $FGNX

Citadel Advisors LLC acquired a new position in FG Nexus Inc (NASDAQ:FGNX) during the 2nd quarter, Holdings Channel reports. The firm acquired 240,924 shares of the company’s stock, valued at approximately $1,246,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FGNX. Geode Capital Management LLC bought a new stake in FG Nexus during the fourth quarter valued at approximately $1,330,000. Everstar Asset Management LLC purchased a new stake in FG Nexus during the fourth quarter valued at approximately $1,045,000. State Street Corp bought a new position in FG Nexus in the fourth quarter worth approximately $500,000. United Capital Management of KS Inc. bought a new position in FG Nexus in the fourth quarter worth approximately $440,000. Finally, XTX Topco Ltd purchased a new position in shares of FG Nexus during the 4th quarter worth $420,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.

FG Nexus Trading Down 1.2%

NASDAQ FGNX opened at $8.05 on Friday. FG Nexus Inc has a 12 month low of $4.18 and a 12 month high of $45.80. The stock has a market cap of $41.05 million, a price-to-earnings ratio of -1.15 and a beta of 1.09. The company’s 50 day moving average is $6.94 and its two-hundred day moving average is $6.62.

FG Nexus (NASDAQ:FGNX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($3.07) earnings per share (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%. Sell-side analysts forecast that FG Nexus Inc will post -12.62 EPS for the current year.

Wall Street Analyst Weigh In

FGNX has been the subject of several analyst reports. Wall Street Zen upgraded FG Nexus from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.00.

About FG Nexus

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.