The chart of Fortress Investment Group LLC (FIG) shows a double top with $5.67 target or 7.00% above today’s $5.30 share price. The 5 months chart pattern indicates low risk for the $2.03 billion company. It was reported on Jan, 11 by Finviz.com. If the $5.67 price target is reached, the company will be worth $142.10M more. Double tops are rare but powerful chart patterns. The stock decreased 0.38% or $0.02 on January 10, hitting $5.3. Fortress Investment Group LLC (NYSE:FIG) has risen 6.64% since June 7, 2016 and is uptrending. It has underperformed by 0.78% the S&P500.
Analysts await Fortress Investment Group LLC (NYSE:FIG) to report earnings on February, 23. They expect $0.23 EPS, down 23.33% or $0.07 from last year’s $0.3 per share. FIG’s profit will be $88.09 million for 5.76 P/E if the $0.23 EPS becomes a reality. After $0.23 actual EPS reported by Fortress Investment Group LLC for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
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. $10 is the highest target while $5.50 is the lowest. The $7.25 average target is 36.79% above today’s ($5.3) stock price. Fortress Investment Group Llc has been the topic of 10 analyst reports since October 7, 2015 according to StockzIntelligence Inc. The stock of Fortress Investment Group LLC (NYSE:FIG) earned “Market Perform” rating by Wood on Friday, October 14. As per Wednesday, October 7, the company rating was maintained by Jefferies. RBC Capital Markets maintained it with “Outperform” rating and $10 target price in Monday, October 26 report. The stock of Fortress Investment Group LLC (NYSE:FIG) earned “Market Perform” rating by Wood on Monday, July 11. On Wednesday, December 9 the stock rating was reinitiated by Credit Suisse with “Neutral”. RBC Capital Markets maintained it with “Outperform” rating and $9 target price in Thursday, February 25 report.
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 1.02 in 2016 Q3. Its up 0.02, from 1 in 2016Q2. The ratio is positive, as 12 funds sold all Fortress Investment Group LLC shares owned while 34 reduced positions. 13 funds bought stakes while 34 increased positions. They now own 101.09 million shares or 2.07% more from 99.04 million shares in 2016Q2.
The Virginia-based Ejf Cap Ltd Liability Corporation has invested 0.5% in Fortress Investment Group LLC (NYSE:FIG). Diligent Invsts Limited Liability Corporation last reported 0.21% of its portfolio in the stock. Strs Ohio has 0.07% invested in the company for 3.05 million shares. Moreover, Manufacturers Life Insur The has 0% invested in Fortress Investment Group LLC (NYSE:FIG) for 11,076 shares. Covey Llc reported 243,510 shares or 0.65% of all its holdings. First Manhattan holds 0% of its portfolio in Fortress Investment Group LLC (NYSE:FIG) for 2,100 shares. Moreover, Fmr Ltd Liability Company has 0% invested in Fortress Investment Group LLC (NYSE:FIG) for 3.99 million shares. Gsa Capital Prtnrs Ltd Liability Partnership last reported 24,000 shares in the company. Hightower Advsrs Lc last reported 149,528 shares in the company. Lmm Ltd Liability reported 677,000 shares or 0.14% of all its holdings. Kayne Anderson Cap L P, a California-based fund reported 339,000 shares. Mraz Amerine Associate accumulated 0.17% or 99,460 shares. Two Sigma Securities Limited has 0.02% invested in the company for 10,579 shares. 683 Cap Mgmt Limited Com has invested 0.71% of its portfolio in Fortress Investment Group LLC (NYSE:FIG). First Republic Inc holds 0% of its portfolio in Fortress Investment Group LLC (NYSE:FIG) for 44,507 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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