Fortress Investment Group LLC (NYSE:FIG) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.
Separately, Zacks Investment Research cut Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.83.
Shares of Fortress Investment Group (NYSE FIG) traded down 0.13% on Friday, hitting $7.99. The company had a trading volume of 956,275 shares. The company has a market capitalization of $1.75 billion, a P/E ratio of 20.23 and a beta of 1.95. The firm has a 50-day moving average price of $8.01 and a 200 day moving average price of $7.70. Fortress Investment Group has a 12-month low of $4.50 and a 12-month high of $8.05.
Fortress Investment Group (NYSE:FIG) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Fortress Investment Group had a return on equity of 38.79% and a net margin of 10.61%. The business had revenue of $246.99 million during the quarter. Equities analysts expect that Fortress Investment Group will post $0.74 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Fortress Investment Group by 1,616,757.3% in the first quarter. JPMorgan Chase & Co. now owns 12,304,284 shares of the asset manager’s stock worth $97,819,000 after buying an additional 12,303,523 shares during the period. Bank of Montreal Can bought a new stake in Fortress Investment Group during the first quarter worth approximately $5,168,000. Lapides Asset Management LLC raised its stake in Fortress Investment Group by 45.9% in the first quarter. Lapides Asset Management LLC now owns 27,000 shares of the asset manager’s stock worth $215,000 after buying an additional 8,500 shares during the period. Two Sigma Securities LLC bought a new stake in Fortress Investment Group during the first quarter worth approximately $205,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in Fortress Investment Group during the first quarter worth approximately $7,988,000. Hedge funds and other institutional investors own 43.45% of the company’s stock.
About Fortress Investment Group
Fortress Investment Group LLC (Fortress) is an investment management firm. The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. Its business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (the Fortress Funds).
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