Shares of Fortress Investment Group LLC (NYSE:FIG) have earned an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.00.
A number of equities analysts recently issued reports on FIG shares. BidaskClub cut Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research cut Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.
Several institutional investors have recently modified their holdings of FIG. Bank of New York Mellon Corp acquired a new stake in shares of Fortress Investment Group in the first quarter worth $343,000. Gamco Investors INC. ET AL acquired a new stake in shares of Fortress Investment Group in the first quarter worth $5,315,000. Gabelli Funds LLC boosted its position in shares of Fortress Investment Group by 346.3% in the first quarter. Gabelli Funds LLC now owns 2,343,536 shares of the asset manager’s stock worth $18,631,000 after buying an additional 1,818,472 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Fortress Investment Group in the first quarter worth $10,336,000. Finally, Ameriprise Financial Inc. boosted its position in shares of Fortress Investment Group by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 76,872 shares of the asset manager’s stock worth $611,000 after buying an additional 1,447 shares during the period. 40.19% of the stock is owned by institutional investors and hedge funds.
Shares of Fortress Investment Group (NYSE FIG) traded up 0.13% during mid-day trading on Wednesday, hitting $7.98. The stock had a trading volume of 3,882,981 shares. The firm has a market cap of $1.75 billion, a P/E ratio of 20.20 and a beta of 1.95. Fortress Investment Group has a 12-month low of $4.50 and a 12-month high of $8.05. The company has a 50 day moving average price of $7.99 and a 200 day moving average price of $7.99.
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 the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $246.99 million for the quarter. Fortress Investment Group had a return on equity of 10.32% and a net margin of 12.87%. Equities analysts forecast that Fortress Investment Group will post $0.74 earnings per share for the current fiscal year.
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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