Fortress Investment Group LLC (NYSE:FIG) – Stock analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for shares of Fortress Investment Group in a research note issued to investors on Thursday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.27. Jefferies Group also issued estimates for Fortress Investment Group’s Q4 2017 earnings at $0.27 EPS.

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 38.79% and a net margin of 10.61%.

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Separately, BidaskClub raised Fortress Investment Group from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Fortress Investment Group has a consensus rating of “Hold” and an average target price of $5.83.

Fortress Investment Group (FIG) opened at 7.99 on Monday. Fortress Investment Group has a one year low of $4.50 and a one year high of $8.05. The stock’s 50 day moving average price is $8.01 and its 200-day moving average price is $7.61. The stock has a market cap of $1.74 billion, a P/E ratio of 20.65 and a beta of 1.95.

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted 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 in the last quarter. Renaissance Technologies LLC boosted its stake in Fortress Investment Group by 157.9% in the fourth quarter. Renaissance Technologies LLC now owns 816,100 shares of the asset manager’s stock worth $3,966,000 after buying an additional 499,700 shares in the last quarter. Bank of Montreal Can purchased a new stake in Fortress Investment Group during the first quarter worth approximately $5,168,000. Lapides Asset Management LLC boosted 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 in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Fortress Investment Group during the first quarter worth approximately $205,000. Institutional investors and hedge funds 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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