BidaskClub downgraded shares of Fortress Investment Group LLC (NYSE:FIG) from a buy rating to a hold rating in a research report report published on Sunday morning.

Shares of Fortress Investment Group (FIG) remained flat at $8.02 during mid-day trading on Friday. 527,534 shares of the stock traded hands. The company has a 50 day moving average price of $7.99 and a 200-day moving average price of $7.14. The firm has a market capitalization of $1.75 billion, a PE ratio of 20.72 and a beta of 1.96. 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 released its earnings results on Monday, May 8th. The asset manager reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. The firm had revenue of $232.23 million during the quarter, compared to analyst estimates of $258.70 million. Fortress Investment Group had a net margin of 8.26% and a return on equity of 41.94%. On average, equities analysts expect that Fortress Investment Group will post $0.76 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mizuho Securities USA Inc. purchased a new position in Fortress Investment Group during the first quarter worth $1,192,000. Gabelli Funds LLC raised its position in 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 in the last quarter. Gamco Investors INC. ET AL purchased a new position in Fortress Investment Group during the first quarter worth $5,315,000. Bank of New York Mellon Corp purchased a new position in Fortress Investment Group during the first quarter worth $343,000. Finally, Opera Trading Capital purchased a new position in Fortress Investment Group during the first quarter worth $596,000. 43.53% of the stock is owned by hedge funds and other institutional investors.

Fortress Investment Group Company Profile

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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