Fortress Investment Group LLC (FIG) Trading Up 3%
Shares of Fortress Investment Group LLC (NYSE:FIG) were up 3% during trading on Friday . The company traded as high as $4.87 and last traded at $4.86, with a volume of 724,428 shares changing hands. The stock had previously closed at $4.72.
A number of brokerages have recently issued reports on FIG. Zacks Investment Research cut shares of Fortress Investment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Jefferies Group reduced their price objective on shares of Fortress Investment Group to $5.00 and set a “hold” rating for the company in a research note on Tuesday, April 12th. Keefe, Bruyette & Woods cut shares of Fortress Investment Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $6.50 to $5.50 in a research note on Monday, July 11th. Finally, Royal Bank Of Canada dropped their target price on shares of Fortress Investment Group from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.64.
The firm has a market capitalization of $1.05 billion and a price-to-earnings ratio of 31.56. The company’s 50-day moving average is $4.61 and its 200-day moving average is $4.67.
Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.14 by $0.10. The business had revenue of $231.60 million for the quarter, compared to analyst estimates of $205.14 million. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.15 EPS. Equities research analysts forecast that Fortress Investment Group LLC will post $0.69 EPS for the current fiscal year.
An institutional investor recently bought a new position in Fortress Investment Group stock. Marshall Wace LLP bought a new stake in shares of Fortress Investment Group LLC (NYSE:FIG) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 449,974 shares of the company’s stock, valued at approximately $2,290,000. Marshall Wace LLP owned 0.21% of Fortress Investment Group as of its most recent SEC filing.
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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