Fortress Investment Group LLC (FIG) Trading Down 2.4%
Fortress Investment Group LLC (NYSE:FIG) shares were down 2.4% on Friday . The company traded as low as $4.87 and last traded at $4.88, with a volume of 587,705 shares changing hands. The stock had previously closed at $5.00.
A number of research analysts have weighed in on FIG shares. Zacks Investment Research cut shares of Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Keefe, Bruyette & Woods cut shares of Fortress Investment Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $6.50 to $5.50 in a report on Monday, July 11th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.64.
The firm has a market cap of $1.06 billion and a PE ratio of 68.73. The firm has a 50-day moving average price of $4.89 and a 200-day moving average price of $4.78.
Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. Equities research analysts anticipate that Fortress Investment Group LLC will post $0.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Wednesday, August 10th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend was Monday, August 8th. This is a boost from Fortress Investment Group’s previous quarterly dividend of $0.08.
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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