Fidus Investment Corporation (FDUS) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Fidus Investment Corporation (NASDAQ:FDUS) from a sell rating to a hold rating in a research report report published on Tuesday.
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 research analysts also recently commented on the company. BidaskClub downgraded Fidus Investment Corporation from a buy rating to a hold rating in a research note on Friday, July 14th. Keefe, Bruyette & Woods set a $18.00 price target on Fidus Investment Corporation and gave the company a hold rating in a research note on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $17.50.
Shares of Fidus Investment Corporation (NASDAQ FDUS) traded down 1.04% during midday trading on Tuesday, reaching $16.25. 100,214 shares of the company’s stock were exchanged. The company’s 50 day moving average is $16.77 and its 200-day moving average is $16.95. Fidus Investment Corporation has a 12 month low of $14.33 and a 12 month high of $18.21.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 9.60%. The ex-dividend date is Thursday, September 7th. Fidus Investment Corporation’s payout ratio is 80.83%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC increased its position in shares of Fidus Investment Corporation by 1.8% in the fourth quarter. Guggenheim Capital LLC now owns 83,212 shares of the asset manager’s stock valued at $1,309,000 after buying an additional 1,489 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Fidus Investment Corporation by 76.2% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 241,614 shares of the asset manager’s stock valued at $4,245,000 after buying an additional 104,478 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in shares of Fidus Investment Corporation during the first quarter valued at approximately $224,000. Baird Financial Group Inc. increased its position in shares of Fidus Investment Corporation by 26.9% in the first quarter. Baird Financial Group Inc. now owns 17,471 shares of the asset manager’s stock valued at $307,000 after buying an additional 3,701 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Fidus Investment Corporation by 23.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 426,050 shares of the asset manager’s stock valued at $7,486,000 after buying an additional 79,985 shares during the last quarter. 28.41% of the stock is owned by hedge funds and other institutional investors.
About Fidus Investment Corporation
Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.
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