J. Derek Lewis & Associates Inc. Makes New Investment in FG Nexus Inc $FGNX

J. Derek Lewis & Associates Inc. acquired a new stake in FG Nexus Inc (NASDAQ:FGNX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 118,000 shares of the company’s stock, valued at approximately $324,000. J. Derek Lewis & Associates Inc. owned 1.80% of FG Nexus as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC acquired a new stake in FG Nexus during the 4th quarter worth approximately $1,330,000. Everstar Asset Management LLC acquired a new position in shares of FG Nexus in the fourth quarter worth $1,045,000. State Street Corp acquired a new position in shares of FG Nexus in the fourth quarter worth $500,000. Wolverine Asset Management LLC acquired a new position in FG Nexus during the 4th quarter worth $465,000. Finally, United Capital Management of KS Inc. acquired a new position in FG Nexus during the 4th quarter worth $440,000. Institutional investors and hedge funds own 3.13% of the company’s stock.

FG Nexus Price Performance

NASDAQ FGNX opened at $5.67 on Monday. The stock has a market capitalization of $32.55 million, a P/E ratio of 0.44 and a beta of 1.02. FG Nexus Inc has a 52-week low of $4.18 and a 52-week high of $206.25. The firm has a 50-day moving average price of $6.71 and a 200 day moving average price of $9.50.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. B. Riley Financial reduced their price target on FG Nexus from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings downgraded FG Nexus from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen lowered shares of FG Nexus from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently 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.