Advisory Research Inc. reduced its position in shares of Fidus Investment Co. (NASDAQ:FDUS) by 11.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 47,727 shares of the asset manager’s stock after selling 5,990 shares during the quarter. Advisory Research Inc. owned about 0.20% of Fidus Investment worth $742,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Asset Advisory Services LLC bought a new stake in Fidus Investment in the fourth quarter worth $57,000. Morgan Stanley increased its stake in Fidus Investment by 199.6% in the fourth quarter. Morgan Stanley now owns 340,956 shares of the asset manager’s stock worth $4,466,000 after purchasing an additional 227,143 shares during the period. BlackRock Inc. increased its stake in Fidus Investment by 3.1% in the fourth quarter. BlackRock Inc. now owns 83,879 shares of the asset manager’s stock worth $1,099,000 after purchasing an additional 2,492 shares during the period. Ares Management LLC purchased a new position in shares of Fidus Investment during the fourth quarter valued at $4,794,000. Finally, Virtus ETF Advisers LLC increased its stake in shares of Fidus Investment by 53.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 32,420 shares of the asset manager’s stock valued at $425,000 after buying an additional 11,336 shares during the period. Institutional investors own 25.18% of the company’s stock.
A number of brokerages recently weighed in on FDUS. B. Riley raised their price objective on Fidus Investment from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 10th. Hovde Group downgraded Fidus Investment from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $17.00 to $18.50 in a report on Monday, May 10th. Raymond James lifted their price target on Fidus Investment from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, May 7th. They noted that the move was a valuation call. Keefe, Bruyette & Woods upgraded Fidus Investment from a “market perform” rating to an “outperform” rating and set a $17.50 price objective for the company in a research report on Friday, May 7th. Finally, Zacks Investment Research cut Fidus Investment from a “buy” rating to a “hold” rating in a research report on Friday, May 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Fidus Investment has an average rating of “Buy” and a consensus target price of $17.07.
Fidus Investment (NASDAQ:FDUS) last released its quarterly earnings data on Thursday, May 6th. The asset manager reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.10. The company had revenue of $23.29 million for the quarter, compared to analyst estimates of $20.16 million. Fidus Investment had a return on equity of 10.19% and a net margin of 78.86%. As a group, equities analysts predict that Fidus Investment Co. will post 1.59 EPS for the current fiscal year.
The firm also recently declared a Variable dividend, which will be paid on Monday, June 28th. Stockholders of record on Monday, June 14th will be paid a $0.39 dividend. This represents a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, June 11th. Fidus Investment’s dividend payout ratio (DPR) is presently 80.00%.
Fidus Investment Profile
Fidus Investment Corporation is a business development company. It 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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