Fidus Investment Corp. (FDUS) Upgraded to Hold by Zacks Investment Research
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. “
FDUS has been the topic of a number of other reports. DA Davidson assumed coverage on Fidus Investment Corp. in a research report on Thursday, September 22nd. They set a buy rating and a $17.00 target price on the stock. Robert W. Baird cut Fidus Investment Corp. from an outperform rating to a neutral rating in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Fidus Investment Corp. presently has a consensus rating of Buy and a consensus target price of $16.67.
Fidus Investment Corp. (NASDAQ:FDUS) traded down 0.31% on Monday, hitting $15.83. The stock had a trading volume of 6,659 shares. The firm’s 50 day moving average price is $15.85 and its 200-day moving average price is $15.57. Fidus Investment Corp. has a 12 month low of $11.34 and a 12 month high of $16.40.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 9.82%. The ex-dividend date was Wednesday, September 7th. Fidus Investment Corp.’s payout ratio is presently 77.23%.
Several hedge funds have recently added to or reduced their stakes in FDUS. Royal Bank of Canada raised its stake in Fidus Investment Corp. by 16.8% in the second quarter. Royal Bank of Canada now owns 9,595 shares of the company’s stock valued at $147,000 after buying an additional 1,380 shares during the last quarter. Citigroup Inc. raised its stake in Fidus Investment Corp. by 23.5% in the second quarter. Citigroup Inc. now owns 9,867 shares of the company’s stock valued at $151,000 after buying an additional 1,877 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Fidus Investment Corp. during the second quarter valued at approximately $154,000. KCG Holdings Inc. purchased a new stake in Fidus Investment Corp. during the second quarter valued at approximately $183,000. Finally, Commonwealth Equity Services Inc raised its stake in Fidus Investment Corp. by 2.0% in the second quarter. Commonwealth Equity Services Inc now owns 16,191 shares of the company’s stock valued at $247,000 after buying an additional 323 shares during the last quarter. 20.33% of the stock is currently owned by hedge funds and other institutional investors.
About Fidus Investment Corp.
Fidus Investment Corporation is a business development company. The Company provides customized debt and equity financing solutions to lower middle-market companies. Its investment objective is to provide risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity related investments.
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