Zacks Investment Research lowered shares of Fidus Investment (NASDAQ:FDUS) from a buy rating to a hold rating in a research report released on Monday.
According to Zacks, “Fidus Investment Corporation is a business development company which provides customized mezzanine debt and equity financing solutions to lower middle-market companies. The Company partners with business owners, management teams and financial sponsors by providing customized financing for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives. Fidus Investment Corporation is based in Evanston, Illinois. “
FDUS has been the topic of several other research reports. ValuEngine cut shares of Fidus Investment from a hold rating to a sell rating in a research note on Tuesday, September 18th. BidaskClub raised shares of Fidus Investment from a hold rating to a buy rating in a research note on Wednesday, October 31st. Finally, TheStreet cut shares of Fidus Investment from a b- rating to a c+ rating in a research note on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $14.50.
Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Fidus Investment had a return on equity of 8.25% and a net margin of 69.97%. The business had revenue of $17.87 million during the quarter, compared to the consensus estimate of $18.38 million. As a group, equities research analysts anticipate that Fidus Investment will post 1.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, December 7th were issued a $0.39 dividend. The ex-dividend date was Thursday, December 6th. This represents a $1.56 annualized dividend and a yield of 12.10%. Fidus Investment’s payout ratio is 109.09%.
In other news, insider Shelby E. Sherard bought 3,675 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were acquired at an average price of $13.60 per share, for a total transaction of $49,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its holdings in Fidus Investment by 170.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 7,300 shares of the asset manager’s stock valued at $107,000 after buying an additional 4,600 shares during the period. Brown Advisory Inc. lifted its holdings in Fidus Investment by 72.5% in the second quarter. Brown Advisory Inc. now owns 18,565 shares of the asset manager’s stock valued at $264,000 after buying an additional 7,805 shares during the period. JPMorgan Chase & Co. lifted its holdings in Fidus Investment by 22.1% in the third quarter. JPMorgan Chase & Co. now owns 25,249 shares of the asset manager’s stock valued at $369,000 after buying an additional 4,571 shares during the period. Optimum Investment Advisors lifted its holdings in Fidus Investment by 18.2% in the third quarter. Optimum Investment Advisors now owns 32,959 shares of the asset manager’s stock valued at $482,000 after buying an additional 5,086 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its holdings in Fidus Investment by 21.3% in the third quarter. Oppenheimer & Co. Inc. now owns 36,494 shares of the asset manager’s stock valued at $534,000 after buying an additional 6,400 shares during the period. Institutional investors and hedge funds own 27.72% of the company’s stock.
About Fidus Investment
Fidus Investment Corporation is a business development company specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.
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