Fortress Investment Group LLC (FIG) Holdings Cut by HighTower Advisors LLC

HighTower Advisors LLC cut its position in Fortress Investment Group LLC (NYSE:FIG) by 7.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 134,798 shares of the asset manager’s stock after selling 11,000 shares during the period. HighTower Advisors LLC owned approximately 0.06% of Fortress Investment Group worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Stifel Financial Corp raised its holdings in Fortress Investment Group by 1.1% in the first quarter. Stifel Financial Corp now owns 35,071 shares of the asset manager’s stock worth $279,000 after buying an additional 388 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Fortress Investment Group by 1.9% in the first quarter. Ameriprise Financial Inc. now owns 76,872 shares of the asset manager’s stock worth $611,000 after buying an additional 1,447 shares during the last quarter. Lapides Asset Management LLC raised its holdings 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 last quarter. Vivaldi Asset Management LLC raised its holdings in Fortress Investment Group by 1.6% in the second quarter. Vivaldi Asset Management LLC now owns 601,597 shares of the asset manager’s stock worth $4,807,000 after buying an additional 9,547 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Fortress Investment Group by 5.9% in the second quarter. California Public Employees Retirement System now owns 237,600 shares of the asset manager’s stock worth $1,898,000 after buying an additional 13,300 shares during the last quarter. 40.19% of the stock is owned by institutional investors and hedge funds.

FIG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. BidaskClub cut shares of Fortress Investment Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $6.00.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/10/12/fortress-investment-group-llc-fig-holdings-cut-by-hightower-advisors-llc.html.

Fortress Investment Group LLC (NYSE FIG) opened at 8.00 on Thursday. Fortress Investment Group LLC has a one year low of $4.50 and a one year high of $8.05. The firm has a 50-day moving average of $7.97 and a 200 day moving average of $7.99. The stock has a market capitalization of $1.75 billion, a PE ratio of 20.25 and a beta of 1.92.

Fortress Investment Group (NYSE:FIG) last released its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Fortress Investment Group had a net margin of 10.61% and a return on equity of 38.79%. The business had revenue of $246.99 million for the quarter. On average, equities research analysts anticipate that Fortress Investment Group LLC will post $0.74 earnings per share for the current fiscal year.

Fortress Investment Group 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).

Institutional Ownership by Quarter for Fortress Investment Group (NYSE:FIG)

Receive News & Ratings for Fortress Investment Group LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortress Investment Group LLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply