Credit Suisse Reiterates a Hold Rating on Fortress Investment

By Carrie Williams

In a report issued on November 3, Craig Siegenthaler from Credit Suisse reiterated a Hold rating on Fortress Investment (NYSE: FIG), with a price target of $6. The company’s shares closed last Friday at $4.87.

According to TipRanks.com, Siegenthaler is a 1-star analyst with an average return of -1.4% and a 47.7% success rate. Siegenthaler covers the Financial sector, focusing on stocks such as Huntington Bancshares Inc., Virtus Investment Partners, and Oaktree Capital Group Llc.

Fortress Investment has an analyst consensus of Hold.

Fortress Investment’s market cap is currently $1.05B and has a P/E ratio of 75.98. The company has a book value ratio of 2.2136.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FIG in relation to earlier this year. Most recently, in August 2015, Wesley Edens, the Principal of FIG bought 200,000 shares for a total of $1,209,652.

Fortress Investment Group LLC is a diversified global investment management company that provides investment management services for investment funds and companies, including related managed accounts. It operates business through following segments: Private Equity Funds, Liquid Hedge Funds, Credit Funds, Credit Private Equity Funds and Logan Circle. The Private Equity Funds segment primarily makes significant, control-oriented investments in debt and equity securities of public or privately held entities in North America and Western Europe, with a focus on acquiring and building asset-based businesses with significant cash flows. The Liquid Hedge Funds segment invests globally in fixed income, currency, equity and commodity markets and related derivatives to capitalize on imbalances in the financial markets. The Credit Funds segment makes diversified investments in assets, opportunistic lending situations and securities, on a global basis and throughout the capital structure with a value orientation. The Credit Private Equity Funds segment focuses on investing in distressed and undervalued assets. The Logan Circle segment manages portfolios for institutional investors across a comprehensive range of strategies that include core, core plus, short, intermediate and long duration, corporate and high yield. Fortress Investment Group was founded by Wesley Robert Edens, Robert I. Kauffman and Randy Alan Nardone in 1998 and is headquartered in New York, NY.