Last $6.72 USD
Change Today -0.35 / -4.95%
Volume 4.0M
As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

fortress investment grp-cl a (FIG) Key Developments

Fortress Investment Group LLC Appoints Adam Rosenberg as Managing Director of Credit Funds Business

Fortress Investment Group LLC announced that Adam Rosenberg has joined its Credit Funds business as a Managing Director of leading its Gaming & Leisure investment platform. Mr. Rosenberg joins the company from Goldman, Sachs & Co., where he was Global Head of Gaming Investment Banking. Mr. Rosenberg will be responsible for investments made by Fortress's family of Credit-related funds across the capital structure in the Gaming & Leisure sector.

Fortress Eyes Acquisitions

Fortress Investment Group LLC (NYSE:FIG) is looking for acquisition opportunities. Aaron Blanchette, Managing Director of Fortress, said, "We look forward to playing a part in 365's organic expansion and potential mergers and acquisitions, as opportunities arise."

Fortress Investment Group LLC Presents at The RBC Capital Markets' 2014 Financial Institutions Conference, Sep-16-2014

Fortress Investment Group LLC Presents at The RBC Capital Markets' 2014 Financial Institutions Conference, Sep-16-2014 . Venue: Hyatt Regency Boston, One Avenue de Lafayette, Boston, MA 02111, United States. Speakers: Adit Malhotra, Investor Relations, Daniel N. Bass, Chief Financial Officer, Gordon E. Runté, Managing Director, Head of Public Investor Relations and Corporate Communications, and Member of Management Committee, Jeffrey Hazlett, Senior Vice President.

Fortress Investment Group LLC Declares Second Quarter Common and Special Cash Dividend, Payable on August 15, 2014; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Fortress Investment Group LLC's board of directors declared a second quarter 2014 cash dividend of $0.26 per dividend paying share, comprised of a base quarterly cash dividend of $0.08 per dividend paying share and a special cash dividend of $0.18 per dividend paying share. The dividend is payable on August 15, 2014 to Class A shareholders of record as of the close of business on August 12, 2014. The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $427,313,000 compared to $223,074,000 a year ago. Income before income taxes was $75,698,000 compared to loss before income taxes of $1,270,000 a year ago. Net income attributable to Class A shareholders was $31,220,000 or $0.12 Class A share, diluted compared to net loss attributable to Class A shareholders of $2,436,000 or $0.01 diluted Class A share a year ago. The year-over-year increase in the company's second quarter 2014 GAAP net income was primarily driven by a $204 million increase in GAAP revenues, partially offset by a $129 million increase in GAAP expenses. The increase in GAAP Revenue was primarily attributable to $158 million of revenues from the Media Business as a result of the consolidation of New Media beginning in February 2014, as well as a $30 million increase in incentive income from affiliates primarily attributable to realization activity in Private Equity funds and higher crystallized incentive income from Permanent Capital Vehicles. For the six months, the company reported revenues of $737,479,000 compared to $467,429,000 a year ago. Income before income taxes was $87,624,000 compared to $92,312,000 a year ago. Net income attributable to Class A shareholders was $34,156,000 or $0.14 Class A share, diluted compared to $12,253,000 or $0.04 diluted Class A share a year ago. GAAP book value per share was $2.89 as of June 30, 2014.

Fortress Investment Group LLC to Report Q2, 2014 Results on Jul 31, 2014

Fortress Investment Group LLC announced that they will report Q2, 2014 results at 9:00 AM, Eastern Standard Time on Jul 31, 2014

 

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Valuation FIG Industry Range
Price/Earnings 14.8x
Price/Sales 1.1x
Price/Book 2.2x
Price/Cash Flow 11.5x
TEV/Sales 1.0x
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