Fortress Investment Group LLC (NYSE:FIG) saw a significant growth in short interest in October. As of October 13th, there was short interest totalling 2,021,795 shares, a growth of 215.2% from the September 29th total of 641,353 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,120,641 shares, the short-interest ratio is presently 1.8 days.

Fortress Investment Group (NYSE:FIG) opened at 7.78 on Tuesday. The company has a market cap of $1.71 billion, a PE ratio of 19.70 and a beta of 1.92. The company has a 50-day moving average of $7.94 and a 200 day moving average of $7.98. Fortress Investment Group has a 12 month low of $4.50 and a 12 month high of $8.05.

Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The company had revenue of $246.99 million for the quarter. Fortress Investment Group had a net margin of 10.61% and a return on equity of 38.79%. On average, equities analysts forecast that Fortress Investment Group will post $0.74 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in FIG. SG Americas Securities LLC grew its position in shares of Fortress Investment Group by 64.3% during the second quarter. SG Americas Securities LLC now owns 3,112,040 shares of the asset manager’s stock worth $24,865,000 after acquiring an additional 1,217,345 shares during the last quarter. Bank of Montreal Can grew its position in shares of Fortress Investment Group by 146.7% during the second quarter. Bank of Montreal Can now owns 1,603,700 shares of the asset manager’s stock worth $12,814,000 after acquiring an additional 953,700 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Fortress Investment Group by 4.7% during the second quarter. JPMorgan Chase & Co. now owns 12,877,133 shares of the asset manager’s stock worth $102,888,000 after acquiring an additional 572,849 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Fortress Investment Group by 681.2% during the second quarter. Ameriprise Financial Inc. now owns 600,498 shares of the asset manager’s stock worth $4,798,000 after acquiring an additional 523,626 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Fortress Investment Group by 4.1% during the second quarter. Citigroup Inc. now owns 10,432,867 shares of the asset manager’s stock worth $83,358,000 after acquiring an additional 414,587 shares during the last quarter. Institutional investors and hedge funds own 39.91% of the company’s stock.

A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BidaskClub upgraded Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.00.

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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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