Fortress Investment Group LLC FIG was a big mover last session, as the company saw its shares rise around 8% on the day. Shares gained after the company confirmed the closing of Fortress Macro Funds. The news led to far more shares changing hands than in a normal session resulting in solid volume. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $5.33 to $5.83 in the past one-month time frame.
The company has seen two negative revisions in the past one month, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent move higher can last.
Fortress Investment currently carries a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
A better-ranked investment management stock is Monroe Capital Corporation MRCC, sporting a Zacks Rank #1 (Strong Buy).
Is FIG going up? Or down? Predict to see what others think: Up or Down
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