Revenue Update on Fortress Investment Group LLC(NYSE:FIG)

Fortress Investment Group LLC(NYSE:FIG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $272.00M. Analysts estimated a revenue of $235.86M. Earnings per share were $-0.07. Analysts had estimated an EPS of $0.18.

In a different note, On Jul 11, 2016, Keefe Bruyette & Woods said it Downgrades its rating on Fortress Investment Group LLC. The shares have been rated ‘Market Perform’ by the firm.

Fortress Investment Group LLC (FIG) shares turned negative on Thursdays trading session with the shares closing down -0.04 points or -0.81% at a volume of 13,40,481. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.0001. The peak price level was also seen at $5.0001 while the days lowest was $4.89. Finally the shares closed at $4.9. The 52-week high of the shares is $6.75 while the 52-week low is $3.87. According to the latest information available, the market cap of the company is $1,892 M.

Several Insider Transactions has been reported to the SEC. On Aug 31, 2015, Wesley R Edens (Principal) purchased 200,000 shares at $6.06 per share price.Also, 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.

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