Fidus Investment (NASDAQ:FDUS) Lowered to Neutral Rating by B. Riley

B. Riley downgraded shares of Fidus Investment (NASDAQ:FDUS) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat reports. They currently have $22.50 price target on the asset manager’s stock, up from their prior price target of $22.00.

A number of other research analysts have also recently commented on FDUS. Keefe, Bruyette & Woods boosted their price target on Fidus Investment from $20.00 to $21.50 and gave the stock a “market perform” rating in a report on Monday. LADENBURG THALM/SH SH raised Fidus Investment from a “hold” rating to a “strong-buy” rating in a report on Friday, May 9th.

Fidus Investment Trading Down 0.4%

Shares of NASDAQ:FDUS opened at $21.37 on Wednesday. The stock has a 50 day moving average of $20.71 and a 200 day moving average of $20.68. Fidus Investment has a 12-month low of $16.70 and a 12-month high of $23.55. The company has a market cap of $756.07 million, a PE ratio of 9.25 and a beta of 0.95.

Fidus Investment (NASDAQ:FDUS) last posted its quarterly earnings results on Thursday, August 7th. The asset manager reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. Fidus Investment had a return on equity of 11.52% and a net margin of 51.88%. The company had revenue of $39.97 million for the quarter, compared to analysts’ expectations of $37.42 million. Equities research analysts predict that Fidus Investment will post 2.28 earnings per share for the current fiscal year.

Fidus Investment Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.57 per share. This is a positive change from Fidus Investment’s previous — dividend of $0.11. The ex-dividend date of this dividend is Thursday, September 18th. This represents a dividend yield of 800.0%. Fidus Investment’s payout ratio is currently 74.46%.

Institutional Trading of Fidus Investment

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Fidus Investment by 8.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,267 shares of the asset manager’s stock worth $279,000 after acquiring an additional 1,000 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of Fidus Investment by 137.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,728 shares of the asset manager’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Novare Capital Management LLC raised its holdings in shares of Fidus Investment by 0.6% during the 2nd quarter. Novare Capital Management LLC now owns 190,275 shares of the asset manager’s stock worth $3,844,000 after acquiring an additional 1,135 shares in the last quarter. MeadowBrook Investment Advisors LLC raised its holdings in shares of Fidus Investment by 90.0% during the 2nd quarter. MeadowBrook Investment Advisors LLC now owns 2,850 shares of the asset manager’s stock worth $58,000 after acquiring an additional 1,350 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Fidus Investment during the 1st quarter worth approximately $28,000. 28.14% of the stock is owned by hedge funds and other institutional investors.

About Fidus Investment

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.