Fortress Investment Group Llc. (NYSE:FIG) is Attracting Smart Money

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Fortress Investment Group Llc. (NYSE:FIG) reported that Jpmorgan Chase & Co. has picked up 11,303,620 of common stock as of 2017-03-07.

The acquisition brings the aggregate amount owned by Jpmorgan Chase & Co. to a total of 11,303,620 representing a 5.1% stake in the company.

For those not familiar with the company, Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). 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 (collectively, the Fortress Funds). Fortress makes investments in these funds. Fortress’s primary sources of income from the Fortress Funds are management fees, incentive income and investment income on its investments in the funds. The Company’s private equity business manages approximately $15.8 billion of AUM; credit funds business manages over $18.1 billion of AUM; liquid hedge funds business manages over $5.4 billion of AUM, and Logan Circle business manages approximately $31.2 billion of AUM.

A glance at Fortress Investment Group Llc. (NYSE:FIG)’s key stats reveals a current market capitalization of 3.09 billion based on 218.01 Million shares outstanding and a price at last close of $7.99 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-08-28, Edens picked up at 102,485   a purchase price of $5.98. This brings their total holding to 200,000 as of the date of the filing.

On the sell side, the most recent transaction saw Bass unload 35,000 shares at a sale price of $7.76. This brings their total holding to 38,000.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Fortress Investment Group Llc. (NYSE:FIG) as things move forward to see if its progress aligns with these transactions.

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