United Capital Management of KS Inc. Takes $440,000 Position in FG Nexus Inc $FGNX

United Capital Management of KS Inc. bought a new stake in FG Nexus Inc (NASDAQ:FGNX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 160,000 shares of the company’s stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Aristides Capital LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $182,000. LPL Financial LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $31,000. Geode Capital Management LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $1,330,000. Everstar Asset Management LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $1,045,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of FG Nexus in the fourth quarter valued at $465,000. 3.13% of the stock is currently owned by hedge funds and other institutional investors.

FG Nexus Price Performance

NASDAQ FGNX opened at $6.41 on Friday. FG Nexus Inc has a 12 month low of $4.18 and a 12 month high of $206.25. The company has a market capitalization of $36.79 million, a price-to-earnings ratio of 0.50 and a beta of 1.02. The company’s fifty day moving average price is $6.58 and its two-hundred day moving average price is $9.82.

Analyst Upgrades and Downgrades

FGNX has been the subject of several analyst reports. Wall Street Zen downgraded shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, B. Riley Financial decreased their target price on shares of FG Nexus from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

FG Nexus 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.