Fortress Investment Group LLC (NYSE:FIG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “FORTRESS INVESTMENT Group is a leading global alternative asset manager with approximately $34.2 billion in assets under management as of March 31, 2008. Fortress is headquartered in New York and has affiliates with offices in Chicago, Dallas, Frankfurt, Geneva, Hong Kong, London, Los Angeles, Munich, New Canaan, Rome, San Francisco, San Diego, Sydney, Tokyo and Toronto.Fortress raises, invests and manages private equity funds and hedge funds. Fortress intends to grow its existing businesses, while continuing to create innovative products to meet the increasing demand by sophisticated investors for superior risk-adjusted investment returns. “

Separately, BidaskClub downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $5.83.

Fortress Investment Group (NYSE FIG) traded up 0.13% during midday trading on Tuesday, reaching $7.99. The company had a trading volume of 3,643,098 shares. The company has a market capitalization of $1.74 billion, a PE ratio of 20.65 and a beta of 1.95. The stock has a 50-day moving average price of $8.01 and a 200 day moving average price of $7.62. 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 announced its earnings results on Thursday, August 3rd. The asset manager reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm 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%. Equities analysts forecast that Fortress Investment Group will post $0.74 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Fortress Investment Group during the first quarter valued at $147,000. Two Sigma Securities LLC acquired a new position in Fortress Investment Group during the first quarter valued at $205,000. Lapides Asset Management LLC raised its position 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 valued at $215,000 after buying an additional 8,500 shares during the period. Stifel Financial Corp raised its position in Fortress Investment Group by 1.1% in the first quarter. Stifel Financial Corp now owns 35,071 shares of the asset manager’s stock valued at $279,000 after buying an additional 388 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Fortress Investment Group during the first quarter valued at $343,000. 43.45% 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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