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

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, Keefe, Bruyette & Woods downgraded shares of Fortress Investment Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $6.50 to $5.50 in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Fortress Investment Group has an average rating of “Hold” and an average price target of $6.71.

Analyst Recommendations for Fortress Investment Group (NYSE:FIG)

Shares of Fortress Investment Group (NYSE:FIG) opened at 5.08 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of 71.55 and a beta of 1.89. Fortress Investment Group has a one year low of $3.87 and a one year high of $6.29. The stock has a 50 day moving average of $5.02 and a 200-day moving average of $4.89.

Fortress Investment Group (NYSE:FIG) last announced its earnings results on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The firm had revenue of $232 million for the quarter, compared to the consensus estimate of $235.83 million. During the same period in the prior year, the business earned $0.30 EPS. Fortress Investment Group’s quarterly revenue was down 24.6% on a year-over-year basis. On average, equities analysts forecast that Fortress Investment Group will post $0.71 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Fortress Investment Group by 110.8% in the first quarter. Wellington Management Group LLP now owns 26,763,365 shares of the company’s stock worth $127,929,000 after buying an additional 14,064,389 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of Fortress Investment Group during the second quarter worth about $32,561,000. Artemis Investment Management LLP boosted its position in shares of Fortress Investment Group by 367.4% in the second quarter. Artemis Investment Management LLP now owns 2,400,000 shares of the company’s stock worth $10,620,000 after buying an additional 1,886,500 shares in the last quarter. UBS Group AG boosted its position in shares of Fortress Investment Group by 32.5% in the first quarter. UBS Group AG now owns 6,319,252 shares of the company’s stock worth $30,206,000 after buying an additional 1,548,635 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Fortress Investment Group during the second quarter worth about $2,740,000.

Fortress Investment Group Company Profile

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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