Fortress Investment Group LLC (NYSE:FIG) Rating Lowered to Hold at BidaskClub
Fortress Investment Group LLC (NYSE:FIG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Sunday.
Shares of Fortress Investment Group (FIG) remained flat at $8.02 during trading on Friday. 527,534 shares of the company were exchanged. The firm has a 50 day moving average of $7.99 and a 200 day moving average 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 one year low of $4.50 and a one year high of $8.05.
Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings data on Monday, May 8th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Fortress Investment Group had a return on equity of 41.94% and a net margin of 8.26%. The business had revenue of $232.23 million during the quarter, compared to analyst estimates of $258.70 million. On average, equities analysts anticipate that Fortress Investment Group will post $0.76 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of FIG. Mizuho Securities USA Inc. purchased a new position in Fortress Investment Group during the first quarter worth $1,192,000. Gabelli Funds LLC increased 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 during the period. 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. Institutional investors and hedge funds own 43.53% 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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