Fortress Investment Group LLC (NYSE:FIG) – Research analysts at Oppenheimer Holdings lifted their Q4 2016 earnings estimates for Fortress Investment Group in a report released on Wednesday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the brokerage will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.25.
Fortress Investment Group (NYSE:FIG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The business had revenue of $232 million for the quarter, compared to analyst estimates of $235.83 million. During the same period last year, the firm posted $0.30 EPS. Fortress Investment Group’s quarterly revenue was down 24.6% on a year-over-year basis.
A number of other analysts also recently issued reports on the company. Keefe, Bruyette & Woods set a $6.00 target price on Fortress Investment Group and gave the stock a “hold” rating in a research report on Saturday. Zacks Investment Research downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Fortress Investment Group presently has an average rating of “Hold” and an average target price of $6.71.
Fortress Investment Group (NYSE:FIG) opened at 5.05 on Monday. The stock’s 50 day moving average price is $5.03 and its 200-day moving average price is $4.90. The firm has a market cap of $1.09 billion, a PE ratio of 71.13 and a beta of 1.89. Fortress Investment Group has a 12-month low of $3.87 and a 12-month high of $6.29.
Several institutional investors have recently bought and sold shares of FIG. Wellington Management Group LLP raised its stake in Fortress Investment Group by 110.8% in the first quarter. Wellington Management Group LLP now owns 26,763,365 shares of the company’s stock valued at $127,929,000 after buying an additional 14,064,389 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new stake in Fortress Investment Group during the second quarter valued at about $32,561,000. Artemis Investment Management LLP raised its stake in Fortress Investment Group by 367.4% in the second quarter. Artemis Investment Management LLP now owns 2,400,000 shares of the company’s stock valued at $10,620,000 after buying an additional 1,886,500 shares in the last quarter. UBS Group AG raised its stake in Fortress Investment Group by 32.5% in the first quarter. UBS Group AG now owns 6,319,252 shares of the company’s stock valued at $30,206,000 after buying an additional 1,548,635 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Fortress Investment Group during the second quarter valued at about $2,740,000.
Fortress Investment Group Company Profile
Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle.
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