Fortress Investment Group LLC (FIG) reported quarterly earnings results on Thursday, May-5-2016. The company reported $0.04 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $0.14. The company posted revenue of $231.60 million in the period, compared to analysts expectations of $205.14 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Fortress Investment Group LLC. Company shares were Reiterated by RBC Capital Mkts on Apr 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 10 from a previous price target of $9 .Shares were Reiterated by Compass Point on Mar 9, 2016 to “Buy” and Lowered the Price Target to $ 6.50 from a previous price target of $7.50 .Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Outperform” and Lowered the Price Target to $ 9 from a previous price target of $10 .
Fortress Investment Group LLC closed down -0.03 points or -0.62% at $4.78 with 8,16,589 shares getting traded on Wednesday. Post opening the session at $4.75, the shares hit an intraday low of $4.75 and an intraday high of $4.82 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Aug 31, 2015, Wesley R Edens (Principal) purchased 200,000 shares at $6.06 per share price. According to the SEC, on Aug 24, 2015, Michael G. Rantz (director) purchased 20,000 shares at $5.87 per share price. On Jun 1, 2015, Daniel Bass (Chief Financial Officer) sold 35,000 shares at $7.76 per share price, according to the Form-4 filing with the securities and exchange commission.
Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $67.5 billion in assets under management (AUM) as of December 31 2014. Its 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). Fortress makes investments in these funds. Fortress has three primary sources of income from the Fortress Funds: management fees incentive income and investment income on its investments in the funds. The Fortress Funds fall into four business segments in which Fortress operates: Private equity focuses on control-oriented investments; Liquid hedge funds invests in fixed income currency equity and commodity markets and related derivatives; Credit funds invests in direct lending corporate debt and securities real estate and structured finance and Logan Circle an asset management business.