Fortress Investment Group LLC (NYSE:FIG) Position Decreased by Chicago Capital Management LLC
Chicago Capital Management LLC cut its position in shares of Fortress Investment Group LLC (NYSE:FIG) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,699,263 shares of the asset manager’s stock after selling 8,252 shares during the period. Fortress Investment Group accounts for 3.0% of Chicago Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Chicago Capital Management LLC owned 0.78% of Fortress Investment Group worth $13,577,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC raised its position in Fortress Investment Group by 140.4% in the second quarter. Virtu Financial LLC now owns 44,486 shares of the asset manager’s stock worth $355,000 after buying an additional 25,981 shares during the period. Bank of Montreal Can raised its position in Fortress Investment Group by 146.7% in the second quarter. Bank of Montreal Can now owns 1,603,700 shares of the asset manager’s stock worth $12,814,000 after buying an additional 953,700 shares during the period. Public Employees Retirement System of Ohio bought a new position in Fortress Investment Group during the first quarter worth about $477,000. Goldman Sachs Group Inc. raised its position in Fortress Investment Group by 872.9% in the first quarter. Goldman Sachs Group Inc. now owns 9,802,781 shares of the asset manager’s stock worth $77,932,000 after buying an additional 8,795,161 shares during the period. Finally, Lapides Asset Management LLC raised its position in Fortress Investment Group by 45.9% in the first quarter. Lapides Asset Management LLC now owns 27,000 shares of the asset manager’s stock worth $215,000 after buying an additional 8,500 shares during the period. Hedge funds and other institutional investors own 43.45% of the company’s stock.
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Shares of Fortress Investment Group LLC (NYSE:FIG) traded down 0.50% during mid-day trading on Friday, reaching $7.96. The company’s stock had a trading volume of 3,449,676 shares. The firm has a 50-day moving average of $8.01 and a 200-day moving average of $7.72. The firm has a market capitalization of $1.75 billion, a PE ratio of 20.15 and a beta of 1.95. Fortress Investment Group LLC has a 52 week low of $4.50 and a 52 week high of $8.05.
Fortress Investment Group (NYSE:FIG) last announced 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%. Equities research analysts forecast that Fortress Investment Group LLC will post $0.74 earnings per share for the current fiscal year.
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A number of research firms recently issued reports on FIG. BidaskClub upgraded Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $5.83.
Fortress Investment Group Company Profile
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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