Fortress Investment Group LLC (NYSE:FIG) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Fortress Investment Group (NYSE FIG) remained flat at $8.02 during trading on Friday. 527,534 shares of the company were exchanged. The company has a 50-day moving average of $7.99 and a 200 day moving average of $7.14. Fortress Investment Group has a 52-week low of $4.50 and a 52-week high of $8.05. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.72 and a beta of 1.96.

Fortress Investment Group (NYSE:FIG) last posted its earnings results on Monday, May 8th. The asset manager reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Fortress Investment Group had a net margin of 8.26% and a return on equity of 41.94%. The business had revenue of $232.23 million during the quarter, compared to the consensus estimate of $258.70 million. On average, equities research analysts forecast that Fortress Investment Group will post $0.76 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of FIG. Virtu Financial LLC increased its stake in shares of Fortress Investment Group by 140.4% in the second quarter. Virtu Financial LLC now owns 44,486 shares of the asset manager’s stock worth $355,000 after buying an additional 25,981 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Fortress Investment Group by 146.7% in the second quarter. Bank of Montreal Can now owns 1,603,700 shares of the asset manager’s stock worth $12,814,000 after buying an additional 953,700 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Fortress Investment Group during the first quarter worth about $477,000. Goldman Sachs Group Inc. increased its stake in shares of Fortress Investment Group by 872.9% in the first quarter. Goldman Sachs Group Inc. now owns 9,802,781 shares of the asset manager’s stock worth $77,932,000 after buying an additional 8,795,161 shares during the last quarter. Finally, Lapides Asset Management LLC increased 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 during the last quarter. 43.53% of the stock is owned by hedge funds and other institutional investors.

Fortress Investment Group Company Profile

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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