BidaskClub lowered shares of Fortress Investment Group LLC (NYSE:FIG) from a hold rating to a sell rating in a research report report published on Friday morning.

Fortress Investment Group (NYSE:FIG) traded up 0.13% during trading on Friday, hitting $8.01. The stock had a trading volume of 5,149 shares. The company’s 50 day moving average is $8.01 and its 200-day moving average is $7.59. Fortress Investment Group has a 12 month low of $4.50 and a 12 month high of $8.05. The company has a market cap of $1.75 billion, a PE ratio of 20.70 and a beta of 1.96.

Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings data on Monday, May 8th. The asset manager reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. Fortress Investment Group had a return on equity of 41.94% and a net margin of 8.26%. The firm had revenue of $232.23 million for the quarter, compared to the consensus estimate of $258.70 million. On average, equities research analysts predict that Fortress Investment Group will post $0.76 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Fortress Investment Group by 1,616,757.3% in the first quarter. JPMorgan Chase & Co. now owns 12,304,284 shares of the asset manager’s stock worth $97,819,000 after buying an additional 12,303,523 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of 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 last quarter. Credit Suisse AG increased its position in shares of Fortress Investment Group by 1,146.9% in the first quarter. Credit Suisse AG now owns 8,794,158 shares of the asset manager’s stock worth $69,914,000 after buying an additional 8,088,872 shares during the last quarter. UBS Group AG increased its position in shares of Fortress Investment Group by 49.7% in the first quarter. UBS Group AG now owns 7,156,360 shares of the asset manager’s stock worth $56,893,000 after buying an additional 2,376,085 shares during the last quarter. Finally, York Capital Management Global Advisors LLC bought a new position in shares of Fortress Investment Group during the first quarter worth approximately $53,719,000. Hedge funds and other institutional investors own 43.52% of the company’s stock.

About Fortress Investment Group

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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