Closed End Fund Advisors Inc. purchased a new stake in shares of Fidus Investment Corporation (NASDAQ:FDUS – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 38,831 shares of the asset manager’s stock, valued at approximately $749,000.
Several other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new stake in Fidus Investment during the 4th quarter valued at about $628,000. Legal & General Group Plc grew its stake in Fidus Investment by 18.6% during the 4th quarter. Legal & General Group Plc now owns 252,442 shares of the asset manager’s stock valued at $4,868,000 after purchasing an additional 39,644 shares during the last quarter. MQS Management LLC purchased a new stake in Fidus Investment during the 4th quarter valued at about $852,000. Novare Capital Management LLC grew its stake in Fidus Investment by 2.5% during the 4th quarter. Novare Capital Management LLC now owns 204,889 shares of the asset manager’s stock valued at $3,954,000 after purchasing an additional 5,050 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Fidus Investment by 8.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 30,125 shares of the asset manager’s stock valued at $581,000 after purchasing an additional 2,333 shares during the last quarter. Hedge funds and other institutional investors own 28.14% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods dropped their price target on Fidus Investment from $20.00 to $19.50 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.
Fidus Investment Stock Down 1.7%
Shares of FDUS stock opened at $18.47 on Friday. The stock has a market cap of $700.94 million, a PE ratio of 8.10 and a beta of 0.68. The business has a 50-day simple moving average of $18.44 and a 200-day simple moving average of $18.84. Fidus Investment Corporation has a 52-week low of $16.86 and a 52-week high of $22.09.
Fidus Investment (NASDAQ:FDUS – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The asset manager reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.12. The business had revenue of $37.76 million during the quarter, compared to analysts’ expectations of $42.30 million. Fidus Investment had a return on equity of 11.19% and a net margin of 49.51%. Sell-side analysts anticipate that Fidus Investment Corporation will post 2.15 earnings per share for the current fiscal year.
Fidus Investment Announces Dividend
The business also recently disclosed a special dividend, which will be paid on Monday, June 29th. Stockholders of record on Tuesday, June 16th will be issued a $0.19 dividend. This represents a dividend yield of 388.0%. The ex-dividend date of this dividend is Tuesday, June 16th. Fidus Investment’s payout ratio is 75.44%.
About Fidus Investment
Fidus Investment Corporation (NASDAQ: FDUS) is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.
The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.
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