Fidus Investment (NASDAQ:FDUS) Releases Earnings Results, Meets Expectations

Fidus Investment (NASDAQ:FDUS) posted its quarterly earnings results on Thursday. The asset manager reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50, Zacks reports. Fidus Investment had a net margin of 51.88% and a return on equity of 11.52%.

Fidus Investment Stock Performance

Shares of NASDAQ FDUS traded down $0.14 during mid-day trading on Thursday, reaching $20.68. 127,463 shares of the company’s stock were exchanged, compared to its average volume of 204,432. The company’s 50-day moving average is $20.64 and its 200-day moving average is $20.48. The firm has a market capitalization of $731.66 million, a price-to-earnings ratio of 8.95 and a beta of 0.91. Fidus Investment has a 52-week low of $16.70 and a 52-week high of $23.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in shares of Fidus Investment by 7.6% in the 2nd quarter. Osaic Holdings Inc. now owns 13,092 shares of the asset manager’s stock valued at $264,000 after acquiring an additional 920 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Fidus Investment by 4.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 33,094 shares of the asset manager’s stock worth $670,000 after purchasing an additional 1,469 shares during the period. IHT Wealth Management LLC increased its holdings in Fidus Investment by 10.1% in the 2nd quarter. IHT Wealth Management LLC now owns 69,581 shares of the asset manager’s stock valued at $1,406,000 after purchasing an additional 6,397 shares during the last quarter. MGB Wealth Management LLC raised its position in Fidus Investment by 2.1% in the second quarter. MGB Wealth Management LLC now owns 89,775 shares of the asset manager’s stock valued at $1,807,000 after purchasing an additional 1,821 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in Fidus Investment during the second quarter worth $549,000. Hedge funds and other institutional investors own 28.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.