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Actionable news in FIG: FORTRESS INVESTMENT GROUP LLC,

Fortress Investment (FIG) Stock Falls After Closing Down Macro Hedge Fund

NEW YORK (TheStreet) -- Shares of Fortress Investment Group (FIG - Get Report) closed trading down by 3.37% to $5.44 on Monday, as the company plans to close down its flagship macro hedge fund, according to Bloomberg.

The fund, which has suffered two straight years of losses, was run by Michael Novogratz.

The macro hedge fund has lost 17.5% this year through September after it lost 1.6% last year, according to filings reviewed by Bloomberg.

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Additionally, on Friday analysts at Zack's lowered the company's rating to "sell" from "hold."

Separately, TheStreet Ratings team rates FORTRESS INVESTMENT GRP LLC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

We rate FORTRESS INVESTMENT GRP LLC (FIG) a BUY. This is driven by a number...


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