[EDGAR] Fortress Investment Group LLC (NYSE:FIG) (TREND ANALYSIS) reported estimated, unaudited credit hedge fund returns for the month ended June 30, 2015 and estimated, unaudited liquid hedge fund returns for the month ended July 31, 2015 or June 30, 2015, as applicable.
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Fortress Investment Group LLC (NYSE:FIG) stock is currently trading 31.1% below its 52-week-high, 43.27% above its 52-week-low. The 1-year stock price history is in the range of $4.16 – $8.65. Fortress Investment Group LLC (FIG) has a price to earnings ratio of 12.6 versus Financial sector average of 16.81. FIG stock price has underperformed the S&P 500 by 17.2%. The Asset Management company is currently valued at $1.29 billion and its share price closed the last trading session at $5.96. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $7.59.
Fortress Investment Group LLC (FIG) current short interest stands at 4.98 million shares. It has increased by 9% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.52 million shares, the number of days required to cover the short positions stand at 3.3 days.
FIG reported last quarter earnings on July 30. The Asset Management company announced earnings per share of $0.3 against a consensus Street estimate of $0.26, beating the average estimate by $0.04. This corresponds to an increase of $0.08 compared to the same quarter of the previous fiscal year.
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There are currently six analysts that cover Fortress Investment Group LLC stock. Of those six, four have a Buy rating, two have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $9.3.
A recent analyst activity consisted of Keefe Bruyette& Woods upgrading their Market Perform rating to Outperform on July 13. Keefe Bruyette& Woods decreased price target from $8.75 to $8.5. This corresponds to a 42.62% upside from the last closing price. On the date of report, the stock closed at $7.38.
Company profile
Fortress Investment Group LLC is a publicly owned investment manager. The firm provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities. It launches and manages hedge funds, balanced mutual funds, and private equity funds. The firm invests in the public the private equity and alternative investment markets across the globe. It invests in distressed and undervalued assets and tangible & intangible assets such as real estate, capital assets, natural resources, and intellectual property. The firm’s alternative investments include investment in currency, commodity, real estate markets, and distressed real estate loan acquisitions. It employs value strategy to make its investments. The firm employs a fundamental analysis with bottom-up approach to create its investment portfolio. Fortress Investment Group LLC was founded in 1998 and is based in New York, New York with additional offices in United States, Europe, Asia, and Australia.
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