Fortress Investment Group LLC (FIG) : Traders are bullish on Fortress Investment Group LLC (FIG) as it has outperformed the S&P 500 by a wide margin of 9.36% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.35%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.41% in the last 1 week, and is up 10.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 7.38% and the 50-Day Moving Average is 11.37%. Fortress Investment Group LLC (NYSE:FIG): stock turned positive on Friday. Though the stock opened at $5.07, the bulls momentum made the stock top out at $5.22 level for the day. The stock recorded a low of $5.0501 and closed the trading day at $5.16, in the green by 1.78%. The total traded volume for the day was 662,662. The stock had closed at $5.07 in the previous days trading.
The company Insiders own 45.2% of Fortress Investment Group LLC shares according to the proxy statements. Institutional Investors own 29.8% of Fortress Investment Group LLC shares. Also, Equity Analysts at the Brokerage Firm, Keefe Bruyette & Woods, downgrades their rating on the shares of Fortress Investment Group LLC (NYSE:FIG). Keefe Bruyette & Woods has a Market Perform rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on July 11, 2016.
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.