Fortress Investment Group LLC Stock Is Crashing Now

by Franklin Staff

The stock of Fortress Investment Group LLC (NYSE:FIG) is a huge mover today! The stock decreased 0.20% or $0.01 on May 13, hitting $4.87. About 498,766 shares traded hands. Fortress Investment Group LLC (NYSE:FIG) has declined 14.86% since October 8, 2015 and is downtrending. It has underperformed by 16.51% the S&P500. The move comes after 7 months negative chart setup for the $1.89B company. It was reported on May, 14 by Barchart.com. We have $4.43 PT which if reached, will make NYSE:FIG worth $170.10 million less.

Out of 6 analysts covering Fortress Investment Group Llc (NYSE:FIG), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. Fortress Investment Group Llc has been the topic of 8 analyst reports since October 7, 2015 according to StockzIntelligence Inc.

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.”

The institutional sentiment decreased to 0.63 in 2015 Q4. Its down 0.39, from 1.02 in 2015Q3. The ratio worsened, as 24 funds sold all Fortress Investment Group LLC shares owned while 41 reduced positions. 17 funds bought stakes while 24 increased positions. They now own 122.51 million shares or 3.72% less from 127.24 million shares in 2015Q3.

Serengeti Asset Management Lp holds 7.33% of its portfolio in Fortress Investment Group LLC for 7.70 million shares. Tricadia Capital Management Llc owns 5.47 million shares or 6.59% of their US portfolio. Moreover, Algebris Investments (Uk) Llp has 2.59% invested in the company for 1.40 million shares. The South Africa-based Coronation Asset Management (Pty) Ltd. has invested 1.56% in the stock. Global Endowment Management Lp, a North Carolina-based fund reported 1.56 million shares.