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. “
A number of other analysts also recently issued reports on FDUS. TheStreet downgraded Vince from a c- rating to a d rating in a research report on Thursday, April 11th. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. Finally, B. Riley assumed coverage on Fidus Investment in a research report on Friday, June 21st. They issued a buy rating and a $17.50 target price for the company. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Fidus Investment has an average rating of Hold and a consensus target price of $17.75.
Shares of FDUS opened at $16.21 on Tuesday. The stock has a market capitalization of $395.32 million, a P/E ratio of 11.42 and a beta of 1.07. The firm’s 50 day simple moving average is $16.03. Fidus Investment has a 12 month low of $11.48 and a 12 month high of $16.50.
Fidus Investment (NASDAQ:FDUS) last released its earnings results on Thursday, May 2nd. The asset manager reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Fidus Investment had a return on equity of 9.24% and a net margin of 58.33%. The business had revenue of $20.33 million during the quarter, compared to the consensus estimate of $19.01 million. Equities analysts forecast that Fidus Investment will post 1.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 9.62%. The ex-dividend date of this dividend was Thursday, June 6th. Fidus Investment’s dividend payout ratio is currently 109.86%.
In other news, Director Raymond L. Jr. Anstiss bought 2,250 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $16.00 per share, with a total value of $36,000.00. Following the completion of the transaction, the director now directly owns 4,760 shares of the company’s stock, valued at approximately $76,160. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond L. Jr. Anstiss bought 2,740 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was purchased at an average cost of $15.94 per share, with a total value of $43,675.60. Following the completion of the transaction, the director now directly owns 6,260 shares of the company’s stock, valued at $99,784.40. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bragg Financial Advisors Inc purchased a new position in shares of Fidus Investment in the first quarter valued at $199,000. Prospera Financial Services Inc grew its position in shares of Fidus Investment by 13.5% in the first quarter. Prospera Financial Services Inc now owns 15,921 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 1,893 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Fidus Investment in the first quarter valued at $337,000. Eagle Global Advisors LLC purchased a new position in shares of Fidus Investment in the first quarter valued at $352,000. Finally, Andesa Financial Management Inc. grew its position in shares of Fidus Investment by 134.8% in the first quarter. Andesa Financial Management Inc. now owns 26,978 shares of the asset manager’s stock valued at $412,000 after purchasing an additional 15,489 shares in the last quarter. Institutional investors own 28.21% of the company’s stock.
Fidus Investment Company Profile
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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