Fortress Investment Group LLC (FIG) Given Average Recommendation of “Hold” by Analysts
Fortress Investment Group LLC (NYSE:FIG) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.92.
FIG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods set a $6.00 target price on shares of Fortress Investment Group and gave the stock a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Monday, July 11th.
Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in 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 valued at $127,929,000 after buying an additional 14,064,389 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new position in Fortress Investment Group during the second quarter valued at approximately $32,561,000. Artemis Investment Management LLP raised its position 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. UBS Group AG raised its position in Fortress Investment Group by 32.5% in the first quarter. UBS Group AG now owns 6,319,252 shares of the company’s stock valued at $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 Fortress Investment Group during the second quarter valued at approximately $2,740,000.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/fortress-investment-group-llc-fig-given-average-recommendation-of-hold-by-analysts.html
Shares of Fortress Investment Group (NYSE:FIG) traded up 1.19% during trading on Tuesday, hitting $5.11. 125,319 shares of the stock were exchanged. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 71.97 and a beta of 1.89. Fortress Investment Group has a 52 week low of $3.87 and a 52 week high of $6.29. The stock’s 50 day moving average price is $5.03 and its 200 day moving average price is $4.90.
Fortress Investment Group (NYSE:FIG) last posted its earnings results on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate 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. The business’s revenue was down 24.6% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, equities analysts predict that Fortress Investment Group will post $0.71 earnings per share for the current year.
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.
Receive News & Ratings for Fortress Investment Group LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Investment Group LLC and related companies with MarketBeat.com's FREE daily email newsletter.