The stock of Fortress Investment Group LLC (NYSE:FIG) is a huge mover today! About 1.83 million shares traded hands or 291.68% up from the average. Fortress Investment Group LLC (NYSE:FIG) has risen 5.40% since April 6, 2016 and is uptrending. It has outperformed by 3.44% the S&P500.
The move comes after 9 months negative chart setup for the $1.82B company. It was reported on Nov, 8 by Barchart.com. We have $4.43 PT which if reached, will make NYSE:FIG worth $109.20 million less.
Fortress Investment Group LLC (NYSE:FIG) Ratings Coverage
Out of 4 analysts covering Fortress Investment Group Llc (NYSE:FIG), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Fortress Investment Group Llc has been the topic of 10 analyst reports since October 7, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, October 26 by RBC Capital Markets. Wood maintained Fortress Investment Group LLC (NYSE:FIG) on Friday, October 14 with “Market Perform” rating. The stock of Fortress Investment Group LLC (NYSE:FIG) has “Outperform” rating given on Thursday, February 25 by RBC Capital Markets. The firm has “Hold” rating given on Wednesday, October 7 by Jefferies. The company was downgraded on Monday, July 11 by Wood. The rating was reinitiated by Credit Suisse on Wednesday, December 9 with “Neutral”.
According to Zacks Investment Research, “FORTRESS INVESTMENT Group is a leading global alternative asset manager with approximately $34.2 billion in assets under management as of March 31, 2008. Fortress is headquartered in New York and has affiliates with offices in Chicago, Dallas, Frankfurt, Geneva, Hong Kong, London, Los Angeles, Munich, New Canaan, Rome, San Francisco, San Diego, Sydney, Tokyo and Toronto.Fortress raises, invests and manages private equity funds and hedge funds. Fortress intends to grow its existing businesses, while continuing to create innovative products to meet the increasing demand by sophisticated investors for superior risk-adjusted investment returns.”
Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.12, from 0.88 in 2016Q1. The ratio improved, as 16 funds sold all Fortress Investment Group LLC shares owned while 36 reduced positions. 19 funds bought stakes while 33 increased positions. They now own 99.04 million shares or 4.92% less from 104.16 million shares in 2016Q1.
The New Jersey-based Kcg Hldgs Inc has invested 0% in Fortress Investment Group LLC (NYSE:FIG). The Florida-based Dreman Value Mgmt L L C has invested 0% in Fortress Investment Group LLC (NYSE:FIG). Endowment Ltd Partnership has 0.05% invested in the company for 50,000 shares. Diamond Hill Capital Inc last reported 0.11% of its portfolio in the stock. Goldman Sachs has invested 0% of its portfolio in Fortress Investment Group LLC (NYSE:FIG). Gru One Trading Lp last reported 0.01% of its portfolio in the stock. Hillsdale Invest Mgmt owns 119,900 shares or 0.15% of their US portfolio. Pnc Financial Services Group Inc Inc has invested 0% of its portfolio in Fortress Investment Group LLC (NYSE:FIG). Veritable L P accumulated 0.01% or 77,900 shares. First Manhattan, a New York-based fund reported 2,100 shares. Allianz Asset Mngmt Ag owns 6.68M shares or 0.02% of their US portfolio. Sg Americas Limited Co holds 0.02% or 593,258 shares in its portfolio. Guinness Asset Management accumulated 44,120 shares or 0.05% of the stock. Coe Capital Management Ltd, a Illinois-based fund reported 211,724 shares. Next Fincl Group Inc accumulated 0% or 3,446 shares.
FIG Company Profile
Fortress Investment Group LLC (Fortress), incorporated on November 6, 2006, is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Firm operates through divisions, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. The Company’s business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (collectively, the Fortress Funds). Fortress makes investments in these funds. Fortress’s primary sources of income from the Fortress Funds are management fees, incentive income and investment income on its investments in the funds.
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