Fortress Investment Group LLC (FIG) has risen sharply, recording gains of 3.91% in the past 4 weeks. However, the stock has corrected -2.13% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.51% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Fortress Investment Group LLC is up 5.17% in the last 3-month period. Year-to-Date the stock performance stands at 6.94%. The stock has recorded a 20-day Moving Average of 2.16% and the 50-Day Moving Average is 8.38%.
Fortress Investment Group LLC (NYSE:FIG): The stock opened at $5.14 on Friday but the bulls could not build on the opening and the stock topped out at $5.14 for the day. The stock traded down to $5.01 during the day, due to lack of any buying support eventually closed down at $5.05 with a loss of -1.75% for the day. The stock had closed at $5.14 on the previous day. The total traded volume was 731,867 shares.
Also, In a research note released to the investors, Keefe Bruyette & Woods downgrades its rating on Fortress Investment Group LLC (NYSE:FIG).The analysts at the brokerage house have a current rating of Market Perform on the shares. Earlier, the shares were rated a Outperform by the brokerage firm. 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.