Fidus Investment (FDUS) Rating Increased to Buy at Zacks Investment Research

Fidus Investment (NASDAQ:FDUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $17.00 price target on the asset manager’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.55% from the stock’s current price.

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. “

Separately, BidaskClub downgraded Fidus Investment from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th.

Shares of Fidus Investment (FDUS) traded down $0.22 on Thursday, reaching $15.24. The company had a trading volume of 158,200 shares, compared to its average volume of 131,567. The company has a market capitalization of $373.27, a P/E ratio of 7.70 and a beta of 1.11. Fidus Investment has a 12 month low of $15.10 and a 12 month high of $18.21.

Several large investors have recently added to or reduced their stakes in the company. BB&T Securities LLC lifted its position in shares of Fidus Investment by 23.4% during the third quarter. BB&T Securities LLC now owns 219,466 shares of the asset manager’s stock worth $3,529,000 after purchasing an additional 41,592 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Fidus Investment by 51.3% during the third quarter. D.A. Davidson & CO. now owns 10,009 shares of the asset manager’s stock worth $160,000 after purchasing an additional 3,394 shares during the last quarter. Yorktown Management & Research Co Inc lifted its position in shares of Fidus Investment by 14.6% during the third quarter. Yorktown Management & Research Co Inc now owns 275,000 shares of the asset manager’s stock worth $4,422,000 after purchasing an additional 35,000 shares during the last quarter. Novare Capital Management LLC lifted its position in shares of Fidus Investment by 4.5% during the third quarter. Novare Capital Management LLC now owns 345,544 shares of the asset manager’s stock worth $5,556,000 after purchasing an additional 14,725 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Fidus Investment by 9.9% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 286,058 shares of the asset manager’s stock worth $4,599,000 after purchasing an additional 25,711 shares during the last quarter. Institutional investors and hedge funds own 32.06% of the company’s stock.

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About Fidus Investment

Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.

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