Fidus Investment (NASDAQ:FDUS) Announces Quarterly Earnings Results

Fidus Investment (NASDAQ:FDUS) posted its earnings results on Thursday. The asset manager reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50, FiscalAI reports. Fidus Investment had a net margin of 45.36% and a return on equity of 10.90%. The firm had revenue of $32.55 million for the quarter, compared to the consensus estimate of $42.37 million.

Fidus Investment Trading Down 1.1%

NASDAQ:FDUS traded down $0.23 during mid-day trading on Friday, hitting $20.35. 1,646,890 shares of the company’s stock traded hands, compared to its average volume of 259,980. The firm has a market capitalization of $772.28 million, a price-to-earnings ratio of 9.74 and a beta of 0.67. The firm has a 50 day moving average of $19.33 and a two-hundred day moving average of $18.79. Fidus Investment has a 12 month low of $16.86 and a 12 month high of $21.67.

Fidus Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.72 annualized dividend and a yield of 8.5%. Fidus Investment’s dividend payout ratio is presently 75.44%.

Analyst Upgrades and Downgrades

FDUS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $19.50 price objective on shares of Fidus Investment in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Fidus Investment in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Fidus Investment presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FDUS. Cetera Investment Advisers grew its stake in shares of Fidus Investment by 15.9% in the fourth quarter. Cetera Investment Advisers now owns 523,659 shares of the asset manager’s stock worth $10,107,000 after acquiring an additional 71,723 shares during the last quarter. Invesco Ltd. raised its stake in Fidus Investment by 11.5% during the 3rd quarter. Invesco Ltd. now owns 497,921 shares of the asset manager’s stock valued at $10,088,000 after purchasing an additional 51,218 shares during the last quarter. UBS Group AG boosted its holdings in Fidus Investment by 25.9% in the 3rd quarter. UBS Group AG now owns 375,736 shares of the asset manager’s stock valued at $7,612,000 after purchasing an additional 77,346 shares during the period. Millennium Management LLC bought a new stake in Fidus Investment in the 4th quarter valued at $4,778,000. Finally, Franklin Resources Inc. grew its position in Fidus Investment by 11.1% in the 4th quarter. Franklin Resources Inc. now owns 184,152 shares of the asset manager’s stock worth $3,554,000 after purchasing an additional 18,368 shares during the last quarter. 28.14% of the stock is currently owned by institutional investors and hedge funds.

Fidus Investment Company Profile

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.