Fortress Investment Group LLC (FIG) Upgraded to “Buy” by BidaskClub
Fortress Investment Group LLC (NYSE:FIG) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
FIG has been the topic of a number of other reports. Zacks Investment Research upgraded Fortress Investment Group from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. JMP Securities cut Fortress Investment Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.83.
Fortress Investment Group (NYSE:FIG) traded up 0.12% during mid-day trading on Friday, reaching $8.02. 309,402 shares of the company traded hands. Fortress Investment Group has a 52-week low of $4.23 and a 52-week high of $8.05. The stock has a market capitalization of $1.75 billion, a PE ratio of 20.72 and a beta of 1.96. The firm’s 50-day moving average is $8.00 and its 200 day moving average is $7.02.
Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings data on Monday, May 8th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $232.23 million for the quarter, compared to analysts’ expectations of $258.70 million. On average, equities research analysts expect that Fortress Investment Group will post $0.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Monday, May 22nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Thursday, May 18th. Fortress Investment Group’s payout ratio is 116.13%.
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Large investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Fortress Investment Group during the first quarter worth $147,000. Geode Capital Management LLC bought a new stake in shares of Fortress Investment Group during the first quarter worth $198,000. Two Sigma Securities LLC bought a new stake in shares of Fortress Investment Group during the first quarter worth $205,000. Lapides Asset Management LLC boosted its stake in shares of 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 worth $215,000 after buying an additional 8,500 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Fortress Investment Group by 1.1% in the first quarter. Stifel Financial Corp now owns 35,071 shares of the asset manager’s stock worth $279,000 after buying an additional 388 shares in the last quarter. Institutional investors 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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