PFG Advisors Buys 6,839 Shares of Fidus Investment Corporation $FDUS

PFG Advisors increased its position in shares of Fidus Investment Corporation (NASDAQ:FDUS) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,495 shares of the asset manager’s stock after acquiring an additional 6,839 shares during the quarter. PFG Advisors owned about 0.54% of Fidus Investment worth $3,808,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FDUS. Quarry LP bought a new position in shares of Fidus Investment during the first quarter worth $28,000. AdvisorNet Financial Inc raised its stake in 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 buying an additional 1,000 shares during the period. First Horizon Advisors Inc. raised its stake in Fidus Investment by 154.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,658 shares of the asset manager’s stock worth $54,000 after buying an additional 1,615 shares during the period. MeadowBrook Investment Advisors LLC lifted its holdings in Fidus Investment by 90.0% during the second 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, Atticus Wealth Management LLC bought a new position in Fidus Investment during the second quarter worth about $77,000. Institutional investors own 28.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FDUS. B. Riley lowered Fidus Investment from a “buy” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $22.50 in a research report on Wednesday, August 13th. LADENBURG THALM/SH SH raised Fidus Investment to a “strong-buy” rating in a research note on Wednesday, August 13th. Keefe, Bruyette & Woods raised shares of Fidus Investment from a “market perform” rating to an “outperform” rating and set a $21.50 price target on the stock in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Fidus Investment in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Fidus Investment has an average rating of “Buy” and an average price target of $22.00.

Fidus Investment Trading Down 4.4%

NASDAQ FDUS opened at $19.77 on Monday. The firm has a market capitalization of $699.46 million, a P/E ratio of 8.56 and a beta of 0.91. The firm’s fifty day moving average price is $20.60 and its two-hundred day moving average price is $20.52. Fidus Investment Corporation has a 1 year low of $16.70 and a 1 year high of $23.55.

Fidus Investment (NASDAQ:FDUS) last issued its earnings results on Thursday, November 6th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Fidus Investment had a net margin of 51.88% and a return on equity of 11.52%. The company had revenue of $37.25 million for the quarter, compared to analysts’ expectations of $37.29 million. On average, research analysts anticipate that Fidus Investment Corporation will post 2.28 EPS for the current fiscal year.

Fidus Investment Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Friday, December 19th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Friday, December 19th. Fidus Investment’s dividend payout ratio (DPR) is presently 72.88%.

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.