Fortress Investment (NYSE:FIG) Rating Reaffirmed
Fortress Investment (NYSE:FIG) shares have had their “Neutral” Rating reaffirmed by stock research analysts at Credit Suisse in a recent report sent to clients and investors on 9 December.
From a total of 5 analysts covering Fortress Investment Group Llc (NYSE:FIG) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $10 while the lowest target price is $6.5. The mean of all analyst targets is $8.4 with a 69.81% above today’s ($5.2) stock price. Fortress Investment Group Llc was the topic of 3 analyst reports since October 7, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on October 26 with “Outperform” rating.
Approximately 373,253 shares of stock traded hands. Fortress Investment Group LLC (NYSE:FIG) has declined 37.58% since May 6, 2015 and is downtrending. It has underperformed by 36.78% the S&P500.
The overall sentiment of institutions has decreased to 1.02 in Q2 2015. Its down 0.02, from 1.04 in 2015Q2. The ratio fall, as 19 institutions have sold all the shares of Fortress Investment Group LLC that they owned while 37 funds have taken shares off the table. 23 funds have purchased shares for the first time while 34 added to their positions. These institutions now hold 127.24 million shares or 3.62% less than the 132.02 million shares they owned in 2015Q2.
The Fund Serengeti Asset Management Lp currently is holding shares equating to 9.51% of its total portfolio in Fortress Investment Group LLC representing a total of 9.90 million shares. Another fund,Tricadia Capital Management Llc, is holding a total of 5.47 million shares equating to 4.68% of their holdings. Additionally, Coronation Asset Management (Pty) Ltd. has a 6.86 million share stake in Fortress Investment Group LLC which represents 2.04% of their total portfolio. The Fund, K.J. Harrison & Partners Inc, based out of Ontario – Canada, has also built up a stake in the stock, which represents a total of 1.35% of their total portfolio. Finally Global Endowment Management Lp, a fund which is based in the state of North Carolina reported a total holdings of 1.56 million shares.
Fortress Investment Group LLC is an investment management firm with approximately $67.5 billion in assets under management (AUM) as of December 31, 2014. The company has a market cap of $2.30 billion. The Company’s business is to sponsor the formation of, and provide investment management services for, various investment funds and companies, including related managed accounts (collectively, the Fortress Funds). It has 23.44 P/E ratio. Fortress makes investments in these funds.
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.” Get a free copy of the Zacks research report on Fortress Investment Group LLC (FIG).