Investors Buy Large Volume of Put Options on Fortress Investment Group (FIG)
Fortress Investment Group LLC (NYSE:FIG) was the recipient of unusually large options trading on Thursday. Stock investors purchased 1,297 put options on the company. This is an increase of Infinity compared to the typical volume of 0 put options.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIG. Bank of New York Mellon Corp acquired a new position in Fortress Investment Group in the 1st quarter valued at about $343,000. Ameriprise Financial Inc. grew its position in Fortress Investment Group by 1.9% in the 1st quarter. Ameriprise Financial Inc. now owns 76,872 shares of the asset manager’s stock valued at $611,000 after acquiring an additional 1,447 shares in the last quarter. Stifel Financial Corp grew its position in Fortress Investment Group by 1.1% in the 1st quarter. Stifel Financial Corp now owns 35,071 shares of the asset manager’s stock valued at $279,000 after acquiring an additional 388 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Fortress Investment Group in the 1st quarter valued at about $477,000. Finally, Bank of Montreal Can grew its position in Fortress Investment Group by 146.7% in the 2nd quarter. Bank of Montreal Can now owns 1,603,700 shares of the asset manager’s stock valued at $12,814,000 after acquiring an additional 953,700 shares in the last quarter. 39.91% of the stock is owned by institutional investors.
Fortress Investment Group (NYSE:FIG) opened at $7.87 on Friday. The firm has a market capitalization of $3,060.00, a PE ratio of 8.65 and a beta of 1.91. Fortress Investment Group has a 52-week low of $4.50 and a 52-week high of $8.05.
Fortress Investment Group (NYSE:FIG) last released its earnings results on Thursday, August 3rd. The asset manager reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $246.99 million during the quarter. Fortress Investment Group had a return on equity of 38.79% and a net margin of 10.61%. research analysts predict that Fortress Investment Group will post 0.93 EPS for the current year.
A number of brokerages recently issued reports on FIG. BidaskClub downgraded Fortress Investment Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research raised Fortress Investment Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd.
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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