Brokerages Set Fortress Investment Group LLC (FIG) PT at $6.92
Shares of Fortress Investment Group LLC (NYSE:FIG) have earned an average rating of “Hold” from the ten research firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.92.
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods set a $6.00 price target on Fortress Investment Group and gave the stock a “hold” rating in a research report on Saturday, October 15th. FIG Partners restated a “hold” rating on shares of Fortress Investment Group in a research report on Friday, November 4th. Finally, Zacks Investment Research downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a research report on Thursday, October 13th.
Fortress Investment Group (NYSE:FIG) opened at 5.25 on Wednesday. The company’s 50-day moving average price is $5.05 and its 200-day moving average price is $4.92. The stock has a market cap of $1.14 billion, a PE ratio of 26.38 and a beta of 1.89. Fortress Investment Group has a 12-month low of $3.87 and a 12-month high of $5.62.
Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $261 million for the quarter, compared to analysts’ expectations of $249.25 million. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. On average, equities analysts expect that Fortress Investment Group will post $0.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 14th were issued a $0.09 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $0.36 annualized dividend and a dividend yield of 6.86%.
Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in Fortress Investment Group by 1.6% in the second quarter. BNP Paribas Arbitrage SA now owns 1,390,200 shares of the company’s stock valued at $6,145,000 after buying an additional 22,540 shares in the last quarter. Trust Department MB Financial Bank N A bought a new stake in Fortress Investment Group during the second quarter valued at approximately $188,000. Bank of Montreal Can bought a new stake in Fortress Investment Group during the second quarter valued at approximately $2,740,000. Artemis Investment Management LLP boosted its stake in 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 valued at $10,620,000 after buying an additional 1,886,500 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its stake in Fortress Investment Group by 7.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 99,460 shares of the company’s stock valued at $440,000 after buying an additional 7,000 shares in the last quarter.
About Fortress Investment Group
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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