Mraz Amerine & Associates Inc. Reduces Position in Fortress Investment Group LLC (NYSE:FIG)

Mraz Amerine & Associates Inc. reduced its stake in Fortress Investment Group LLC (NYSE:FIG) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,050 shares of the asset manager’s stock after selling 4,800 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Fortress Investment Group were worth $855,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Fortress Investment Group by 1,616,757.3% in the first quarter. JPMorgan Chase & Co. now owns 12,304,284 shares of the asset manager’s stock valued at $97,819,000 after buying an additional 12,303,523 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Fortress Investment Group by 872.9% in the first quarter. Goldman Sachs Group Inc. now owns 9,802,781 shares of the asset manager’s stock valued at $77,932,000 after buying an additional 8,795,161 shares in the last quarter. Credit Suisse AG increased its stake in shares of Fortress Investment Group by 1,146.9% in the first quarter. Credit Suisse AG now owns 8,794,158 shares of the asset manager’s stock valued at $69,914,000 after buying an additional 8,088,872 shares in the last quarter. York Capital Management Global Advisors LLC acquired a new stake in shares of Fortress Investment Group during the first quarter valued at about $53,719,000. Finally, Bank of America Corp DE increased its stake in shares of Fortress Investment Group by 1,599.3% in the first quarter. Bank of America Corp DE now owns 6,504,646 shares of the asset manager’s stock valued at $51,712,000 after buying an additional 6,121,865 shares in the last quarter. 43.86% of the stock is owned by hedge funds and other institutional investors.

Fortress Investment Group LLC (FIG) opened at 7.98 on Friday. Fortress Investment Group LLC has a 12 month low of $4.50 and a 12 month high of $8.05. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.20 and a beta of 1.95. The firm has a 50-day moving average price of $8.00 and a 200 day moving average price of $7.82.

Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $246.99 million for the quarter. Fortress Investment Group had a return on equity of 38.79% and a net margin of 10.61%. On average, equities analysts forecast that Fortress Investment Group LLC will post $0.74 EPS for the current year.

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Several equities research analysts recently issued reports on FIG shares. BidaskClub downgraded Fortress Investment Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Zacks Investment Research downgraded Fortress Investment Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.83.

About Fortress Investment Group

Fortress Investment Group LLC (Fortress) is an investment management firm. The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. Its business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (the Fortress Funds).

Institutional Ownership by Quarter for Fortress Investment Group (NYSE:FIG)

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